The Nigerian National Petroleum Company has raised the price of Premium Motor Spirit to N897 per liter nationwide.
This increase is already in effect at some NNPC filling stations.
Prices are expected to be higher at independent and major marketer outlets, with NNPC’s prices varying by location: N897 per liter in Abuja, N904 in Kano, and N924 in Yola, according to Guardian.
However, NNPC’s Chief Communications Officer, Mr. Olufemi Soneye, stated he was unaware of any price hike.
“I’m not aware of this. Thank you for reaching out. I have no comment on the matter at this time. If there are any updates, I will make sure to inform you,” Soneye responded.
This follows Dangote’s release of an initial 25 million litres of PMS into the domestic market this September, with plans to increase this supply to 30 million litres daily starting October 2024.
Prior to this, the NNPC, the sole importer of petrol into Nigeria, had consistently denied subsidizing the cost of PMS.
- During a period of fuel scarcity, another group of marketers claimed that the government had authorized a fuel price of N1000 per litre a claim which the federal government has denied.
The mimister of petroleum, senator Heineken Lokpobiri in a statement by his media aide, Nneka Okafor, described the claim as a ploy to sow discord and confusion in the oil industry.
Nneka said “there was never a time FG interfered with petroleum pricing NNPCL, let alone give directives for price increment.
“We categorically condemn this claims as baseless, malicious and a deliberate attempt to incite public discontent.”
The increase has sparked concerns among citizens who are already grappling with high living costs and fuel expenses.
