Home News NNPC debunks reports of Petrol price increase
News

NNPC debunks reports of Petrol price increase

403
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

FinanceNews

Ghana’s Inflation Slows to 21.2% in April, Fourth Monthly Decline

Ghana’s annual consumer inflation rate eased to 21.2 per cent in April...

U.S. cancellation of American subsidies to Mali.
FinanceNews

Mali’s Government Suspends All Political Parties Indefinitely Over Public Order Concerns

Mali’s government has suspended the activities of all political parties and organisations...

Former Anambra governor and Labour Party presidential candidate, Peter Obi
NewsPolitics

People Protested When Naira Was N180 But When It Is N1,500 They Are Not Protesting, Are They Dead? – Obi

The 2023 Labour Party presidential candidate, Peter Obi, has criticised the current...

Orano Offices
News

Niger Security Service Shuts French Mining Company Orano’s Offices Months After Revoking License

Tensions between Niger and French uranium giant Orano has escalated as the...