NNPCL Debunks Rumours Of Petrol Pump Price Increase

The Nigerian National Petroleum Company Limited (NNPCL) has denied the alleged plan to increase the retail price of petrol from the current N617 per litre to between N720 and N750 in the coming weeks.

The statement was released by the oil firm via its official X account.

The statement read: “Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our petrol motor spirit (PMS) pump prices as widely speculated. Please buy the best quality products at the most affordable prices at our NNPC retail stations nationwide.”

The NNPCL made the clarification in reaction to reports in the media that the company was set to raise petroleum pump prices due to the rising cost of crude oil in the international market and the depreciation of the naira against the dollar.

However, the NNPCL said it has no plan to increase its petrol pump prices, as widely speculated. The company said it is still operating within the approved price band of N617–N620 per litre as set by the Petroleum Products Pricing Regulatory Agency (PPPRA).