NNPC Announces New Official Pump Price Weeks As It Begins A New Era after 44 years
- Motorists across the country will be paying a new price for petrol as the NNPC officially raises the pump price.
- This comes days after marketers stated that they could no longer sell at the permitted price of N165 per litre.
- The development is expected to raise the cost of transportation for Nigerians across the country
The Nigerian National Petroleum Company (NNPC) Limited has authorized an increase in the pump price of Premium Motor Spirit (PMS) from N165 to N179 per litre, which will take effect today, Tuesday July 19, 2022.
According to the Guardian, the NNPC has already notified fuel marketers.
The notice directed the marketers to change the petrol price on pumps to the new price effective today.
Source: Twitter
The increase in pump price is on the same day President Muhammdu Buhari is officially unveiling a new NNPC LTD.
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NNPC also equally increased the ex-depot price from N148.17 to N167 per litre.
This is coming after petrol scarcity resurfaced across the country as fuel marketers seek to force a new price which they have finally achieved.
Filling stations adjust price
Already, the majority of filling stations in Lagos have embraced various pricing patterns.
While some filling stations have adjusted the pricing on their meters to reflect the actual price they are selling at, others have left theirs to show the approved retail price of N165 per litre but were selling over the displayed price.
For example, the Mobil filling station on Agidingbi sold a litre of petrol for N170, as clearly indicated on their meters.
A similar thing happened at Enyo filling station at Chisco bus stop in Lekki, which now sells for N170 per litre, Eterna filling station at Jankade bus stop in Lekki, which sells for N180 per litre, and Mobil Filling station at Osapa London in Lekki.
NNPC announces no money, despite N1.89trn revenue
In another report, the Nigerian National Petroleum Corporation (NNPC) has announced it has no money to share with federal states and local governments.
Providing a breakdown of its finance, NNPC revealed it made N1.89 trillion in five months, but most of the money has been spent.
World Bank has expressed concern that Nigeria could be heading for a massive fiscal crisis due to continue subsidy payments.
Source: Legit.ng
