No Plans To Raise Fuel Price- NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) has said it has no intention to increase the retail price of petroleum.

The oil firm said this in a statement posted via its official X platform on Monday night.

The NNPCL made this known in reaction to reports in the media that the company was set to raise petroleum pump prices from the current N617 per litre to between N720 and N750 in the coming weeks.

But in its reaction on Monday, the NNPCL said it has no intention to increase its petrol pump prices as widely speculated.

“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our petrol motor spirit (PMS) pump prices as widely speculated.

“Please buy the best quality products at the most affordable prices at our NNPC Retail stations nationwide,” the NNPCL said.

The NNPCL had in May begun adjustment of pump prices of fuel due to the removal of petroleum subsidy to allow market forces to determine prices.