The Nigerian National Petroleum Company, NNPC has reacted to speculations that it has increased the pump price of Premium Motor Spirit, otherwise known as petroleum from N617 per litre.
BizPoint recalls that after announcing the removal of fuel subsidy by President Bola Ahmed Tinubu in his inaugural speech on May 29, the price of petroleum jerked off to N550.
In July, the price rose to N617 at NNPC retails and independent marketers’ outlets, situation that inflicted more hardship on common Nigerians.
READ ALSO: Subsidy removal: Petrol price rises again – IPMAN
Last week, the Independent Petroleum Marketers Association of Nigeria, IPMAN through its National President, Chinedu Okoronkwo and its Kano branch Chairman, Bashir Ahmad Dan-Malam, confirmed the rise of the price of petroleum, attributing it to the continued fall of Naira against US dollar.
However, in a swift reaction, the NNPC debunked the rumour, saying it has no intention to further increase the pump price of petroleum.
In tweet in its verified Twitter handle, NNPC said it values the patronage of Nigerians, urging them to buy the product at its outlets at “most affordable prices”.
“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated. Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide,” the tweet said.
