The Nigerian National Petroleum Company (NNPC) Limited says it has adjusted the pump price of Premium Motor Spirit (PMS), popularly known as petrol, at its retail outlets to reflect current market realities.
Chief Corporate Communications Officer of NNPC Ltd, Garba Deen Mohammed disclosed this in a statement on Wednesday.
The pump price of petrol had jumped to as much as N600/litre from N195/litre across many parts of the country barely a day after President Bola Tinubu announced the removal of fuel subsidy.
The situation has prompted long queues ar fuel stations in many major cities and urban areas, including Lagos, Abuja, Ilorin, Benin, Asaba, Port Harcourt, Kano, Makurdi.
Amid the confusion generated by the development, a document surfaced purportedly from the NNPC which showed increased pump prices at the national oil company’s outlets in different states and the FCT.
Figures in the document indicated that while the cost of petrol in Borno State was put at N557 per litre, the prices in Lagos, Abuja, Enugu and Ekiti were outlined as N488 per litre, N537 per litre, N520 per litre, and N500 per litre respectively.
In its Wednesday statement, the NNPC appeared to confirm the development, saying it adjusted pump prices to reflect current realities.
The statement read, “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.