On Tuesday, the Nigerian National Petroleum Company Limited (NNPC) increased the pump price of petrol to N897 per litre from the previously set rate of N617. This adjustment follows recent statements from the national oil company about severe financial constraints due to a substantial debt to international suppliers, which is estimated at $6.8 billion.
Observations by THISDAY noted that many NNPC filling stations in Abuja had already implemented the new price of N897 per litre. In contrast, independent filling stations were charging between N930 and N950 per litre during THISDAY’s visit to various locations in Abuja.
A separate communication obtained by THISDAY, directed at depot owners, confirmed the price hike. The message read: “This is to inform you that NNPC Retail Management has approved an upward review of PMS pump price from N617/litre to N897/litre effective today, 3rd September 2024. Please ensure all your pumps and totems (price boards)/MIDs reflect the new PMS price of N897/litre.”
