The Nigerian National Petroleum Company Limited (NNPCL), on Tuesday, raised the pump price of petrol to N897 per litre from the official price of N617.
This is coming days after the national oil company said it was heavily constrained by the huge debt it owes international suppliers.
The debt is estimated to be $6.8 billion
Checks reveal NNPC filling stations in Abuja already effected the prices, with its downstream facilities selling for N897.
However, independent filling stations were selling for between N930 and N950.
A signal to depot owners confirmed the increase.
“This is to inform you that NNPC Retail Management has approved upward review of PMS pump price from N617/itre to N897/liter effective today, 3rd September, 2024.
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“Please ensure all your pumps and totems (price boards)/MIDs reflect the new PMS price of N897/liter,” the message said.
The NNPC spokesperson, Femi Soneye, when contacted, said he had no comment on the matter.
“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 told Premium Times.
Earlier, the Federal Government also denied reports that it directed NNPCL to peg fuel prices at ₦1,000.
Nnemaka Okafor, special adviser, media and communication, to the Minister for Petroleum Resources (Oil), said: “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.
