There are strong indications that the Nigerian National Petroleum Company Limited (NNPC) has directed its retail outlets to increase the pump price of petrol to N855 per litre.
On Tuesday, Nigerians noticed a significant rise in petrol prices, which jumped from around N600 to N855 per litre. Sources informed our correspondent that this increase was due to a directive from NNPC Retail Management approving an upward revision of Premium Motor Spirit (PMS) pump prices.
This price hike comes just two days after the NNPC acknowledged facing challenges in importing fuel, citing an $8 billion debt.
When contacted for comments on the development, NNPC spokesperson Olufemi Soneye declined to provide any information. Our correspondent forwarded the directive about the price increase to Soneye and inquired if the statement was officially from NNPC.
After correspondent clarified via WhatsApp that the directive had been widely circulated and reports from NNPC filling stations indicated a price hike, Soneye replied, “Thank you for reaching out. I have no comment on the matter at this time. If there are any updates, I will inform you.”
Reports from depot operators suggest that N250 has been added to the pump price. Additionally, it was observed that some major marketers have already increased their prices to N860 per litre.
Earlier, it was reported that the pump price of petrol could approach N1,000 per litre in the coming days.
