Petrol prices hikes over N800 per litre

Two days after revealing that rising petrol prices have contributed to over $6 billion in debt, the Nigerian National Petroleum Corporation (NNPC) Limited experienced a significant increase in fuel prices on Tuesday morning, with prices rising by more than 45 percent. This change was evident at NNPC Retail stations in Abuja.

When contacted by Vanguard, NNPC’s Chief Communications Officer, Mr. Olufemi Soneye, stated he was unaware of any price increase. He indicated he had no comment on the matter and would provide updates if available.

Earlier, an unverified message circulating on social media claimed that NNPC Retail Management had approved a price hike for Premium Motor Spirit (PMS) from N617 to N897 per litre, effective September 3, 2024. The message urged that all pumps and price boards be updated to reflect the new price.

Source: Vanguard