Fuel Price Will Continue Fluctuating – NNPC Says, Apologises For Inconveniences
The Nigerian National Petrol Company Limited (NNPCL), has confirmed that the pump prices of Premium Motor Spirit (PMS) known better as fuel, has been adjusted across the country.
According to a statement released on May 31, 2023 and signed by Garba Deen Muhammad, the
Chief Corporate Communications Officer, NNPC Ltd. Abuja, the adjustment in price became necessary owing to the current market realities.
The NNPCL maintained that the price of fuel will continue to fluctuate to reflect market dynamics.
Recall that Bola Tinubu had in his inaugural address at the Eagle Square on Monday, May 29, announced that fuel subsidy has been removed as no provision was made for it in the 2023 budget beyond June.
Immediately after Tinubu’s pronouncement, fuel stations locked up and thereafter increased prices from N230/N245 to N500 and above in different parts of the country.
A document that allegedly emanated from the NNPC showed a varying cost of PMS in various states and the Federal Capital Territory.
Figures in the document indicated that while the cost of petrol in Borno State was put at N557 per litre, the prices in Lagos, Abuja, Enugu and Ekiti were outlined as N488 per litre, N537 per litre, N520 per litre, and N500 per litre respectively.
Read NNPCL’s statement announcing hike in price of fuel:
ADJUSTMENT IN PUMP PRICE OF PMS
NNPC Limited wishes to inform our esteemed customers that we have adjusted our pump prices of PMS across our retail outlets, in line with current market realities.
As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.
We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products.
The company sincerely regrets any inconvenience this development may have caused.
We greatly appreciate your continued patronage, support, and understanding during this time of change and growth.
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