NNPCL Jerks Up Pump Price Of Petrol

Now To Sell Between N488 In Lagos, N550 Nationwide

Ayuba Sanusi

THE management of Nigeria National Petroleum Company Limited (NNPCL) has announced pump price hike effective today, 31 May 2023 with Lagos stations to sell at N488 and higher up to N550 across the nation.

A statement by Garba Deen Muhammad, Chief Corporate Communications Officer of the company made public the price adjustment. Although, he was not specific about the new price regime or percentage adjustment.

Meanwhile, the leadership of NLC and TUC have agreed to meet with the Federal Government to begin talks and negotiations on how to resolve the issue of subsidy removal today.

In a telephone interview with Joe Ajaero, he confirmed receipt of an official invitation to the meeting.

According to him, organised Labour stands on full-scale operations of all four refineries before the removal of subsidy.

However, in a statement to its registered mega stations, NNPCL said as follows:

“Following management approval of the upward review of NNPC PMS pump price as in the below table for Mega/Standard/Leased Stations, Please find below schedules for the RMSs and Wayne to handle.

“Please implement metre change as approved effective today 31st May 2023. Wayne is to attend to all locations as relates to their area of coverage in our network.”

Accordingly, independent marketers are expected to hike their prices far above NNPCL as usual.

Below is a statement from the company

PRESS STATEMENT

ADJUSTMENT IN PUMP PRICE OF PMS

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.

We greatly appreciate your continued patronage, support. and understanding during this time of change and growth.

Garba Deen MuhammadC

Chief Corporate Communications Officer

NNPC Ltd.

Abuja