The Nigerian National Petroleum Company Limited (NNPCL) has jacked up the price of Premium Motor Spirit (PMS), better known as petrol, from N617 to N855.
Theliberationnews observed that the new pump price of petrol was displayed at the NNPCL filling stations in Lagos on Tuesday, September 3, 2024.
This is with the fact that no official announcement has been made to rationalise the price hike.
The latest development is coming amidst fuel scarcity in the country.
Meanwhile, the Federal Government has denied giving nod to the corporation to sell petrol at N1,000 per litre or anything close to that.
Minister of State for Petroleum Resources, Senator Heineken Lokpobori, issued the denial in a statement on Tuesday
The statement, signed by the Special Adviser to the Minister of State for Petroleum Resources, Nnemaka Okafor, said: “The Federal Government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Honourable Minister for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited (NNPCL) to inflate petroleum prices above the approved pump price.
“We categorically condemn these claims as baseless, malicious, and a deliberate attempt to incite public discontent.
“We challenge anyone in possession of any evidence – be it written documents, audio, or video recordings – that supports these fabrications to make it public.
“Such a claim is entirely devoid of truth and should be recognized as an intentional effort to mislead the public.
“It must be stressed that NNPCL operates as an independent entity under the Companies and Allied Matters Act (CAMA), with a fully empowered Board of Directors.
“The Ministry of Petroleum Resources does not, and will not, interfere in the internal decisions of NNPCL, including pricing matters.
“Any suggestion otherwise is incorrect and reveals a profound misunderstanding of the deregulated nature of Nigeria’s petroleum sector.”
