By Ayomide Otitoju
There are strong indications that the Nigerian National Petroleum Company Limited (NNPC) has instructed its retail outlets to raise the pump price of petrol to N855 per litre. On Tuesday, Nigerians were met with a sudden surge in fuel prices, jumping from around N600 to N855 per litre.
Sources informed our correspondent that NNPC Retail Management had issued a directive approving the upward revision of Premium Motor Spirit (PMS) prices at its stations. This development comes just two days after the company acknowledged facing challenges in fuel importation due to an $8 billion debt.
When contacted, NNPC spokesperson Olufemi Soneye declined to comment on the matter. Upon receiving the directive forwarded by our correspondent, Soneye inquired whether the statement originated from The Trust and, after clarification that the statement was circulating widely with reports of price increases at NNPC filling stations, he responded, “Thank you for reaching out. I have no comment on the matter at this time. If there are any updates, I will inform you.”
Depot operators disclosed that an additional N250 had been added to the pump price. Observations also revealed that some major marketers had already adjusted their prices to N860 per litre.
Earlier, The TRUST reported that petrol prices could approach N1,000 per litre within a few days, raising concerns about the impact on consumers and the broader economy.
