Just In: NNPC Raises Fuel Prices to N897 per Litre

The Nigerian National Petroleum Company (NNPC) Limited has increased the pump price of Premium Motor Spirit (PMS) to N897 per litre across the country. This hike comes just days after the company reported being burdened with over $6 billion in debt due to rising petrol supply costs.

Reports indicate that marketers were informed of the new price, which has already taken effect in NNPC filling stations. In some areas, such as Kano, the pump price has been set at N904 per litre. A social media user, Juba, shared that the pump price is set at N897 in Abuja and N855 in Lagos. Renowned Nigerian actress Kate Henshaw shared a video confirming the claims.

She said:

Nnpc have adjusted their pump price now!! Posted as received just now! My driver just informed me that they stopped selling at Mobil to adjust pump price… If the @nnpclimited is selling at N855, then it’s going to be double that elsewhere.

This increase follows ongoing fuel scarcity and rumours that the government had authorised a further hike to N1000 per litre, a claim the Federal Government has strongly denied. In a statement, the Minister for Petroleum Resources (Oil), Senator Heineken Lokpobiri, dismissed these reports as an attempt to cause confusion.

Despite the price hike, NNPC has not officially confirmed the new rates. The company’s Chief Communications Officer, Olufemi Soneye, told PUNCH that he was unaware of any such increase. However, pictures from different NNPC fuel stations‍ have pointed to the new prices being implemented. This is set to double transport and production costs, further plunging Nigerians deeper into hardship.

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