• Oil & Gas - News
  • Updated: May 31, 2023

Fuel Subsidy Removal: NNPC Pump Price Soars Nationwide

The Nigerian National Petroleum Company Limited (NNPC Ltd) on Wednesday changed the pump price of Premium Motor Spirit (PMS) at all of its retail locations to N537 per litre in accordance with the current market conditions.

President Bola Tinubu's declaration that fuel subsidies will cease with the election of his administration prompted NNPC Ltd. to make the change.

NNPC Ltd. retail locations in Abuja were observed by a NAN correspondent, who says that the price increased from N194 to N537 per litre.

In a statement, NNPC Ltd.'s chief corporate communications officer, Garba Muhammad, stated that while the company aimed to continue offering the high-quality services for which it was renowned, pricing will change in line with market conditions.

“The NNPC Ltd. wishes to inform our esteemed customers that we have adjusted our pump price of PMS across our retail outlets, in line with the current market realities.

“We assure you that NNPC Ltd. is committed to ensuring ceaseless supply of products.

“The Company sincerely regrets any inconvenience this development might have caused,” Muhammad said.

He was grateful for the clients' ongoing support, understanding, and patronage during this period of expansion and transition. 

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