Nigerian National Petroleum Company Limited, Hikes Fuel Price
The Nigerian National Petroleum Company Limited ,NNPCL, has raised the price of petrol at its retail stations in Abuja and nearby locations from ₦1,250 to ₦1,270 per litre.
Reports say that the latest adjustment means customers buying Premium Motor Spirit ,PMS, from NNPCL stations now pay ₦20 more for each litre than they did previously.
It also revealed that retailers such as MRS, Geregu, Ranoil, Emedab and Mobil are selling below the new NNPCL price.
Stations like MRS adjusted their price upward by ₦20, but their petrol is still being sold at about ₦1,230 per litre. This leaves a ₦40 difference between the MRS price and the new NNPCL rate.
However, not all filling stations are selling below NNPCL.
Some outlets, including Empire and AA Rano, were reported to be charging between ₦1,275 and ₦1,299 per litre, putting their prices above the state-owned company’s latest rate.
The latest NNPCL price also comes as international crude oil prices have been moving lower.
In addition, the Nigerian National Petroleum Company Limited ,NNPCL, and the Nigerian Upstream Petroleum Regulatory Commission, NUPRC have been commended for “remarkable progress” in restoring confidence, increasing production and attracting fresh investment into Nigeria’s oil and gas sector.
The Citizens Forum for Energy Accountability and Development, CFEAD said the recent achievements announced by NNPC Group Chief Executive Officer, Bayo Ojulari, and NUPRC Commission Chief Executive, Oritsemeyiwa Eyesan, demonstrated that sustained institutional reforms and stronger operational discipline could place the petroleum industry as a major driver of economic growth once again.
Priscilla Uzobuenyi
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