The Nigerian National Petroleum Company Limited has confirmed the increase of the petrol pump prices by more than 200 percent.
This puts the cost of fuel between N488 and N557 per litre across the 36 states of the Federation.
The petroleum agency revealed this through a press statement signed by Chief Corporate Communications Officer, Garba Deen Muhammad, issued on its Twitter page.
The statement titled, ‘ADJUSTMENT IN PUMP PRICE OF PMS’, 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.”
The new NNPCL price template which was obtained by AM Business stated that the new price adjustment was to take effect starting Wednesday.
From the new price template, Lagos State has the least price of N488 per litre while Maiduguri and Damaturu have the highest pump prices of N577 per litre.