Home News NNPC debunks reports of Petrol price increase
News

NNPC debunks reports of Petrol price increase

1.2k
Barely weeks after declaring a net profit of N3.3 trillion in the 2023 financial year, with a purported increase of over N700 billion (28%) when compared to the 2022 profit of N2.548 trillion, NNPC has announced it is under intense financial pressure.

The Nigerian National Petroleum Corporation (NNPC) has refuted social media reports suggesting an increase in Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

In a press statement released on Wednesday, the NNPC Communication Officer, Olufemi Soneye, maintained that the reports were false and urged Nigerians to disregard them.

The corporation reaffirmed its commitment to sustaining the current sufficiency of petroleum products supply across all its retail stations in the country.

Meanwhile, NNPC Retail Limited and Azikel Petroleum Limited signed a petroleum products sale and purchase agreement on Tuesday to enhance the distribution and availability of petroleum products across the country.

Read: Big Brother Naija Season 9 Audition Date Announced: Contestants to Audition in Pairs

About The Author

Written by
Mayowa Durosinmi

M. Durosinmi is a West Africa Weekly investigative reporter covering Politics, Human Rights, Health, and Security in West Africa and the Sahel Region

Related Articles

NewsPoliticsWorld

Why British Involvement Is an INEC and APC Cover and Nigerians Must Absolutely Defend the 2027 Ballot in the Streets and at the Polls

The recent announcement that the Independent National Electoral Commission has deepened its...

NewsPolitics

After 38 Years of Neglect, APC Paints Uncompleted Jos Stadium in 48 Hours for Campaign Rally

The Jos International Stadium has been incomplete for nearly four decades, but...

NewsTravelWorld

Ghana Moves Closer to Relaunching National Airline as Mahama Meets Boeing

President John Dramani Mahama has taken another major step toward re-establishing Ghana’s...

NewsPolitics

Tinubu’s ‘Poverty Is Not Shameful’ Quote Resurfaces as Nigerians Struggle Under His Economic Reforms

A social media post quoting President Bola Tinubu as advising Nigerians to...