NNPCL Confirms Pump Price Upward Review, See New Price List

The Nigerian National Petroleum Corporation Limited (NNPCL) on Wednesday confirmed it has indeed increased the price of petrol across the country.

This was made known in a statement signed by Garba Deen Muhammad, the Chief Corporate Communications Officer of NNPC Ltd, and made available to the public.

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

Price of petrol jumped up across the country immediately after President Bola Ahmed Tinubu declared that the fuel subsidy is gone on Monday during his inauguration.

Checks by Investors King show that in some parts of the country, prices rose as high as 500% before NNPCL reportedly released the widely circulated list below to curtail marketers’ excesses.

Price was cheapest in Lagos at N488 a litre because of its close proximity to the port while it was highest in the northern states with Maiduguri and Damaturu recording the highest at N557 a litre. See the list below

NNPCL outlets across the country have been directed to implement the new price, starting from May 31, 2023.

“DEAR ALL. Following Management approval of the Upward review of NNPC PMS pump price as in below table for Mega/Standard/Leased Stations, Please find below schedules for the RMSs and Wayne to handle. Please implement meter 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,” a statement read.