NNPC office (file image)
The price was reviewed upward to reflect the global price and to reduce the debt burden on NNPCL
By Valentine Amanze
The federal government has worsened the hardship in the country with another hike in the pump price of petrol (pms).
The government owned Nigerian National Petroleum Company Limited (NNPCL) raised the pump price of petrol from N568 to N897 per litre amid lingering fuel crisis in the country.
This was coming on the NNPCL’s claim that it was owing its suppliers more than $6 billion in debt.
The adjustment to the new prices was confirmed in Abuja and Lagos on Tuesday.
It was gathered from Abuja that price was jerked up to N897 per litre, while in Lagos the NNPCL station at Awolowo Road increased price to N855 per litre.
Also read: How NNPCL is causing fuel scarcity, by IPMAN
Other marketers have since jerked up prices too following NNPCL’s price adjustment, with over 30 per cent increments reported, to around N897 per litre, while it goes N1,600 per litre in Owerri, Imo State.
Reports earlier revealed a hike in the ex-depot price of the product to N754 per litre.
It was also gathered that the price was reviewed upward to reflect the global price and to reduce the debt burden on NNPCL.
The NNPC spokesperson, Femi Soneye, as usual, denied any adjustments in prices, stressing that the old price remains.
Recall that the Federal Government also denied reports that it directed NNPCL to peg fuel prices at N1,000.
“The federal government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited to inflate petroleum prices above the approved pump price,” said a Tuesady statement by Nnemaka Okafor, special adviser, media and communication, to the Minister for Petroleum Resources (Oil), Heineken Lokpobiri.
……………………..
For more interesting stories click: nigerianewsflight.com.ng
