The Petroleum Products Pricing Regulatory Agency (PPPRA) of the Nigerian National Petroleum Corporation (NNPC) Limited has increased the pump price of the Premium Motor Spirit (PMS), generally called petrol, to ₦617 per liter.
News Band correspondent received a call Tuesday morning from one of our readers and immediately went out to verify.
It was, thereafter, confirmed that NNPC filling stations in and around the Federal Capital Territory, Abuja, have adjusted the fuel price from N539 to N617 per litre.
It could be recalled that petroleum marketers had warned that fuel price will surpass N700 per litre following the recent downward spiral of the Naira against the Dollar.
Efforts to reach NNPC on Tuesday for reaction failed as the official telephone lines rang without response.
It has also yet to release an official list of the new pump price at the moment of this publication.
It could be recalled that President Bola Ahmed Tinubu has, upon inauguration as the president, ordered the immediate suspension of fuel subsidy.
Consequently, in a press statement entitled “Adjustment in pump price of PMS”, signed by the Chief Corporate Communications Officer of NNPC Ltd., Mr. Garba Deen Muhammad, dated May 31, 2023, informed consumers that it has adjusted the pump prices of PMS across all retail outlets, in line with current market realities.
The statement reads: “NNPC Limited wishes to inform our esteemed customers that we have adjusted our pump prices of PMS across our retail outlets, in line with current market realities.
“As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.
“We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products.
“The company sincerely regrets any inconvenience this development may have caused.”
See the attached the old price list below:
In a another development, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the technical and commercial regulator of midstream and downstream operations, on Monday, has emphasized on the importance of private investment in the importation of Petrol to meet the nation’s energy demands.
NMDPRA said it held a crucial meeting with oil marketing companies in Lagos State to ensure the continuous availability of Petrol across Nigeria.
Earlier, the Executive Director of the Midstream and Downstream Gas Infrastructure Fund (MDGIF), Mansur Kuliya, pictured above, hosted officers of the US Embassy at NMDPRA HQ, Abuja.
The conversation, it was gathered, was centred on the role of the MDGIF towards achieving the Decade of Gas initiative.
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