NNPC Denies Hike in Price of Petrol, Says Increase Not Our Responsibility

NNPC Denies Hike in Price of Petrol, Says Increase Not Our Responsibility

  • The Nigerian National Petroleum Company (NNPC) has denied that it increased the price of petrol, saying it is not its responsibility
  • The NPPC said it is not aware of any increase of petrol price increase and that it falls under the Nigerian Midstream and Downstream Authority (NMPRA)
  • Nigerians were aghast on Tuesday when it was reported that the NNPC quietly increased the price of petrol

The Nigerian National Petroleum Company, (NNPC) has said it did not authorise the new price of petrol.

According to the company, the pricing of fuel falls under the purview of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

NNPC, Petrol Price
NNPC MD, Mele Kyari
Source: Twitter

Nigerians shocked by new price

Garba Deen Muhammad, the NNPC spokesman, stated that the company no longer approves the price of petrol. He said the NNPC has no idea if there is a price hike, saying the agency is the one that approves the price of petrol and not the NNPC.

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The downstream sector was thrown into confusion on Tuesday, July 19, 2o22 as operators increased petrol prices from N165 to N179 per litre.

Feelers gathered by Legit.ng showed that most of the independent marketers sold petrol between N170 and N200 per litre which is in contravention of the directive by the federal government.

NNPC increases petrol at own stations

According to Vanguard, many marketers continue to sell at their preferred prices, depending on the area.

Filling stations belonging to the state-owned NNPC sold petrol at N169 per litre in Lagos while the major marketers sold at over N170 per litre.

NNPC announces new official pump price weeks as it begins a new era after 44 years

Legit.ng the Nigerian National Petroleum Company (NNPC) Limited has authorized an increase in the pump price of Premium Motor Spirit (PMS) from N165 to N179 per litre, which will take effect today, Tuesday July 19, 2022.

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According to the Guardian, the NNPC has already notified fuel marketers. The notice directed the marketers to change the petrol price on pumps to the new price effective today.

The increase in pump price is on the same day President Muhammdu Buhari is officially unveiling a new NNPC LTD.

Source: Legit.ng

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