The Nigerian National Petroleum Company, NNPC Limited has increased the pump price of Premium Motor Spirit otherwise known as Petrol.
DAILY GIST’s check at some fuel stations of the NNPC showed that the new price had been changed to N897 per litre
The prices are expected to be higher in retail outlets of independent and major marketers
This comes barely hours after Dangote released
products from its refinery to supply an initial 25million litres of PMS into the domestic market.
The company is expected to subsequently increase this amount to 30 million litres daily from October 2024.
The NNPCL, the sole importer of petrol into Nigeria, consistently denied subsidising the cost of PMS but refused to disclose the landing cost of the product.
However, it admitted on Sunday that it is facing a financial strain due to the supply costs of the PMS.
Amid fuel scarcity of petrol products, some group of marketers claimed that the government has authorized fuelprice to be N1000 per litre, a claim the Federal Government
denied.
Minister for Petroleum Resources (Oil), Senator Heineken Lokpobiri in a statement by his media aide, Nnemaka Okafo, described the claim as ploy to sow discord and confusion in the oil industry.
Nnemaka said “there was never a time FG interfered with petroleum pricing with NNPCL, let alone give directives for price increment.
“We categorically condemn these claims as baseless, malicious, and a deliberate attempt to incite public discontent.”
