May 21, 2024
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OIL & GAS

Nigeria’s NNPC Debunks Plan to Hike PMS Price

Nigeria’s state-owned oil firm, the Nigerian National Petroleum Company (NNPC) Limited, has denied claims that it plans to increase its Premium Motor Spirit (PMS) price.

A statement signed by the company’s management shared Friday via its X account, said the speculations were unfounded.

“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.

“Please buy the best-quality products at the most affordable prices at our NNPC Retail Stations nationwide.

Since President Bola Tinubu assumed office on May 29, declaring the fuel subsidy removal, NNPC increased its prices at least twice, now selling at N617 per litre across most outlets tripling the former price of below N200.

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