According to the Nigerian National Petroleum Company (NNPC) Limited, there are no plans to increase the price of Premium Motor Spirit (PMS), more commonly known as petrol, at the pump.
Muhammad Garbadeen, the spokesman for NNPC Limited, said in a statement on Monday night that the company has no plans to raise the price of petrol for a third time in a row since the removal of the subsidy on May 29, 2023, and he urged Nigerians to disregard rumours of yet another price increase for the high-end good.
“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.
“Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide,” Garbadeen said.
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Joe Ajaero, the president of the Nigeria Labour Congress (NLC), had on Monday cautioned the NNPC Limited against further increase in the price of petrol.
The Tinubu administration’s unification of foreign exchange rates and rising inflation rates coincided with the unprecedented increase in the price of petrol from N184 per litre to over N600, despite Mele Kyari’s explanation that market forces were to blame for the second price increase.
