NNPC Limited Raises Petrol Price, Keeping Actual Retail Price Under Wraps

In a recent announcement, the Nigerian National Petroleum Company Limited (NNPCL) revealed a hike in the retail price of petrol at its outlets. However, the company chose not to disclose the specific increase in the pump price and concealed the volume of petrol being sold at NNPCL stations nationwide.

The NNPCL, which also is the sole importer of petrol and distributor to marketers, in a statement on Wednesday by the Chief Corporate Communication Officer, NNPC Ltd, Abuja, Garba Deen Muhammed, did not disclose the price at which marketers lift petrol in tankers from the depots.

The statement merely indicated an adjustment in the pump price of PMS at retail outlets without disclosing the cost, but merely expressed regrets for the inconveniences the price increase might have caused customers, citing current market realities as a reason for the price increase.

The statement reads: Adjustment in Pump Price of PMS
NNPC Limited wishes to inform our esteemed customers that we have adjusted our pump price of PMS across our retail outlets, in line with the current market realities.

As we strive to provide you with the quality service we are known for, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.

We assure you that NNPC Ltd. is committed to ensuring a ceaseless supply of products.
the Company sincerely regrets any inconvenience this development might have caused.

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

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