The Nigerian National Petroleum Corporation Limited (NNPCL) has confirmed an upward review of the pump price of petrol.
Garba Deen Muhammad, Chief Corporate Communications Officer, NNPC Ltd, confirmed this in a statement on Wednesday afternoon.
“As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.
“We assure you that NNPC Limited is committed to ensuring a steady supply of products.
“The company sincerely regrets any inconvenience this development may have caused. We greatly appreciate your continued patronage, support, and understanding during this time of change and growth.”
Nigerians woke to reports of upward fuel price review from N197 to above N500 per litre.
According to a widely circulated list, a new table of retail prices has been adopted for different geopolitical zones of the country.
Retail managers of NNPCL outlets were instructed to implement the review from May 31, 2023.
“DEAR, ALL. Following Management’s approval of the Upward review of NNPC PMS pump price as in the below table for Mega/Standard/Leased Stations, Please find below schedules for the RMSs and Wayne to handle. Please implement the meter change as approved effective today 31st May 2023. Wayne is to attend to all locations as relates to their area of coverage in our network,” a statement read.
According to the new price schedule, petrol will sell at N557 per litre in Maiduguri, Borno State, and Damaturu, Yobe, while it will sell for N550 per litre in the rest of the North East zone.
Apart from Uyo and Yenegoa where petrol will now sell at N515 per litre, the rest of the South-South zone will get the product at N511 per litre.
In his inaugural speech, President Bola Tinubu announced that fuel subsidy was gone, and shortly after, fuel queues returned to stations across the country.
