The Nigerian National Petrol Company Limited (NNPCL) on Wednesday confirmed an increase in the pump prices of Premium Motor Spirit (PMS), popularly known as petrol across the country.
The company revealed this in a statement signed by its Chief Corporate Communications Officer, Garba Deen Muhammad.
The national oil company explained that the adjusted pump price was in line with “current market realities.”
Many NNPC Ltd retail outlets in Abuja have adjusted the price from N194 per litre to N537 per litre.
He said as it strived to provide quality service which the company was known for, prices would continue to fluctuate to reflect market dynamics.
“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.
This is coming about 24 hours after President Bola Tinubu announced the removal of fuel subsidy.
This has also triggered a 100 percent hike in transport fares, while long queues resurfaced at fuel stations across Lagos, Abuja, Ilorin, Benin, Asaba, Port Harcourt, Kano, Makurdi and other major cities and urban areas.
