Breaking: NNPC Clarifies Position on Petrol Price Amid Speculations

NNPC Clarifies Position on Petrol Price Amid Speculations

In response to recent speculations about a potential increase in petrol prices, the Nigerian National Petroleum Corporation Limited (NNPCL) has issued a statement affirming its commitment to maintaining stable prices at the pump. This clarification comes after reports circulated regarding a potential rise in the cost of Premium Motor Spirit (PMS), commonly known as petrol.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) had previously hinted at the possibility of the pump price of PMS reaching around N750 per litre. Chinedu Ukadike, the National spokesperson of IPMAN, indicated that other marketers might adjust their prices in alignment with any changes made by the NNPCL.

However, the NNPCL has reassured the public that it currently maintains its ex-depot price at N587.7 and has no intention of increasing the price of petrol. The corporation’s stance on this matter was shared via a statement on its official Twitter account.

In the statement, the NNPC Retail expressed gratitude for its customers’ patronage and emphasized its commitment to providing quality products at affordable prices. The corporation urged customers to continue purchasing petrol at NNPC Retail Stations nationwide, assuring them that there are no imminent plans to raise pump prices.

This clarification from the NNPCL follows warnings from the Nigeria Labour Congress (NLC) against any potential petrol price hikes. As discussions about petrol prices continue, the public’s concerns regarding affordability and stability remain paramount. The NNPCL’s commitment to maintaining prices within a reasonable range serves as a reassurance to consumers across the country.

As Nigerians rely heavily on petrol for various aspects of daily life, keeping the cost of this essential commodity stable and accessible is of significant importance. The NNPCL’s announcement aims to alleviate any uncertainties and to reinforce its dedication to providing reliable and affordable energy solutions for the nation.