- The Federal government earlier denied directing the Nigerian National Petroleum Company Limited to increase fuel price to N1,000
- Nigerian National Petroleum Company Limited (NNPCL) increased fuel price from N568 to N855
- Nigerians react, many expressed shock and disappointment in the government
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of fuel from N568 to N855 per litre.
This is coming after the NNPCL admitted that it owed petrol suppliers the sum of $6 billion after denying it multiple times. The Federal government had also denied reports claiming that the Ministry of Petroleum Resources ordered the NNPC to sell fuel at N1,000 above the approved pump price.
According to Channels TV, “Our correspondents who reported from Abuja and Lagos confirmed the price adjustment on Tuesday.
“While the report from Abuja said price was jerked up to ₦897 per litre, our correspondent in Lagos said NNPCL station at Awolowo Road in Lagos, increased price to ₦855 per litre.
Other marketers have since jerked up prices too following NNPCL’s price adjustment, with over 30 per cent increments reported, to around ₦897 per litre.
“Reports earlier revealed a hike in the ex-depot price of the product to ₦754 per litre. Speculations revealed the price was reviewed upward to reflect the global price and to reduce the debt burden on NNPCL.
“The NNPC spokesperson, Femi Soneye denied any adjustments in prices, stressing that the old price remains.”
Many Nigerians took to social media to express their shock at the increase in fuel price. Some people have shared the cost of fuel in their location, showing that the fuel price is not the same across the country. One netizen, @Pageben__ said fuel is sold for N980 per litre in Kaduna. @Eyitemi_Vickz posted: “It's 960-1000 per litre here in Warri Delta State” while @o54288396 said: “Even In osogbo here... Nipco currently selling for 950 why others all selling for 1k+”
Nigerians react to hike in fuel price
Some Nigerians have expressed shock at the increase in fuel price coming just as Dangote announced that fuel from his refinery is ready to roll out petrol to filling stations. Many are scared of how this will impact the cost of other goods and commodities and others are sarcastically mocking supporters of this current administration.
Here are some of the comments:
@TheKolat posted: “It's better I don't say anything because it won't change anything.. One chance govt!!!”
@davsess posted: “NNPC wants to monopolize petrol purchase from dangote and sell to Nigerians at N855/liter? Nigeria is a Netflix location.”
@JE_Kingsley posted: ““I will continue from where Buhari stop” don do pass Buhari in one year😂”
@Tijanton19 posted: “Congratulations 🎉👏 to Tinubu, APC and its supporters. Ndi ara.”
@KeehNee posted: “A new day, a new level of struggle for Nigerians to unlock... 😟”
@alama1_m posted: “These criminals don't have Nigerians at heart”
@Cuewolld posted: “I thought NLC said the reason they settled for 79k minimum wage na make FG and Tinubu no increase fuel price, Wetin come happen now, If I hear say dem one strike,
Until we realise say na yeye dis ppl de take us do, all dis nyamanyama no go ever stop.”
@HiikyaaTor posted: “Now that Dangote is about to release PMS (fuel) into the local market, NNPC jacked up their price! To imagine that they are the sole distributor?”
@Seriousist_ posted: “Nigerians finished protesting and BAT saw how weak the protest was and slapped them with another fuel price increase for wasting his time.”
@akinbobola posted: “At inauguration, the mint President Tinubu verbally ended fuel subsidy. NNPC hiked fuel price with fake govt protest. Today, Dangote refinery launched petrol supply, NNPC again has hiked prices. Again, govt is lamely denying authorizing it, but we know better.”
@usagbeleke posted: “After shouting on the Internet today over fuel price, you people will proceed to buy it so. And move onto the next gist. Make una vamos my tl abeg.”
Improved petrol supply: NNPCL seeks private companies to operate Warri, Kaduna refineries
Meanwhile, TheRadar earlier reported that the Nigerian National Petroleum Company Limited (NNPCL) said it wants to engage private companies that will oversee the operation and maintenance of its Warri and Kaduna refineries.
In a circular released on Thursday, August 29, through its official X account, NNPCL said the decision is to ensure reliability, sustainability and improved supply of petrol and enhance energy security.