Home News NNPC debunks reports of Petrol price increase
News

NNPC debunks reports of Petrol price increase

412
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

Niger Tax Incentives Dangote Cement
BusinessNews

Niger Revokes Tax Incentives for Dangote Cement and KAO Ciment Over Unfulfilled Investment Commitments

The Nigerien government has withdrawn tax and customs benefits previously granted to...

Senegal Burkina Faso Fight Terrorism
News

Senegal Pledges Full Support to Burkina Faso in Fight Against Terrorism

The Prime Minister of Senegal, Ousmane Sonko, has pledged his country’s full...

Mali Fuel Niger
News

Mali Signs Fuel Deal With Niger, Cutting Reliance On Algerian Imports

Niger and Mali have signed a series of agreements to secure a...