Two days after it cried out that the burden of petrol price has pushed it into over $6 billion debt, the Nigerian National Petroleum Corporation, NNPC, Limited, on Tuesday morning, increased its pump price of fuel from N617 per litre to N897 per litre.
This is an increase of over 45 percent.
Checks at NNPC Retail stations in Abuja reflected the new fuel price.
When contacted, the company’s Chief Communications Officer, Mr Olufemi Soneye, said he was not aware of any price increase.
“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. I appreciate your understanding,” he responded via WhatsApp.
An unconfirmed trending message on social media platforms had earlier hinted at the new fuel price.
The message read: “Good morning all. This is to inform you that NNPC Retail Management has approved an upward review of PMS pump price from N617/litre to N897/litre effective today, 3rd September 2024.
“Please, ensure all your pumps and totems (price boards)/MIDs reflect the new PMS price of N897/liter. Thank you.”
Meanwhile, the Federal Government has denied a report that the Ministry of Petroleum Resources had ordered the Nigerian National Petroleum Company Limited to sell fuel at ₦1,000 per litre.
In a statement signed by the Special Adviser, Media and Communication, to the Minister for Petroleum Resources (Oil), Heineken Lokpobiri, Nnemaka Okafor, on Tuesday, the FG declared that the report was concocted and ill-conceived to sow discord and confusion in the oil industry.
The report claimed that Lokpobiri gave the NNPCL the directive.
However, the minister stressed that the FG had never interfered with petroleum pricing with NNPCL.
The statement read, “The Federal Government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited to inflate petroleum prices above the approved pump price
“We categorically condemn these claims as baseless, malicious, and a deliberate attempt to incite public discontent. We challenge anyone in possession of any evidence written documents, audio, or video recordings-that support these fabrications to make it public.
“Such a claim is entirely devoid of truth and should be recognised as an intentional effort to mislead the public. It must be stressed that NNPCL operates as an independent entity under the Companies and Allied Matters Act, with a fully empowered Board of Directors.
“The Ministry of Petroleum Resources does not, and will not, interfere in the internal decisions of NNPCL, including pricing matters. Any suggestion otherwise is not only incorrect but also reveals a profound misunderstanding of the deregulated nature of Nigeria’s petroleum sector.”
