NNPC dismisses rumours of reduction in fuel pump price

The Nigerian National Petroleum Company Limited (NNPCL) has dismissed rumours about the adjustment of pump price for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail outlets nationwide.

In a statement issued on Wednesday by its Chief Corporate Communications Officer, Mr. Olufemi Soneye, the company described the reports as false.

Reports emerged in the media on Monday that the ex-depot price for PMS also known as petrol had reduced from N640 to N630 for the independent oil marketers while NNPCL maintained its N570 price.

The N630 new ex-depot price for independent marketers is just a one percent reduction following a decision by the company to give products directly to the marketers while maintaining its N570 ex-depot price.

READ ALSO: Fuel scarcity, shortages to end in 10 years —NNPCL

This was a sharp departure from the former arrangement where the independent marketers got supplies from private depots.

The development provoked reactions from Nigerians who assumed that NNPCL had reduced pump prices at their retail outlets from N617 to N570.

The company, however, urged Nigerians to disregard the reports in entirety.

NNPCL reaffirmed its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country.

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