Says the change is line with the current market realities
The Nigerian National Petroleum Company Limited on Wednesday confirms it has adjusted pump prices of Premium Motor Spirit (PMS), popularly known as fuel or petrol, across their retail outlets, in line with current market realities.
This is coming 2 days after President Bola Ahmed Tinubu in his inaugural speech on Monday, said that fuel subsidy would be removed.
Queues returned to filling stations immediately the president made the statement on Monday.
While some filling stations were selling, others were locked up as a fuel price suddenly skyrocketed from 195 to over 537 naira as at Tod say Wednesday.
The NNPC confirming the new price hike in a statement on their official social media page described the scenario as the new market realities.
The Statement read thus:
PRESS STATEMENT
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”
Garba Deen Muhammad
Chief Corporate Communications Officer
NNPC Ltd.
Abuja
31.05.23
At Gallerypedia Info, we are your foremost news galleria, bringing you up-to-date news ranging from politics, sports, entertainment, and more.