It’s official: NNPCL confirms upward price review

The Nigerian National Petroleum Corporation Limited (NNPCL) has confirmed an upward review of pump price of petrol.

The Chief Corporate Communications Officer, NNPC Ltd, Garba Deen Muhammad, confirmed this in a statement on Wednesday afternoon.

“NNPC Limited wishes to inform our esteemed customers that we have adjusted our pump prices of PMS across our retail outlets, in line with current market realities.

“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 ceaseless 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 review of fuel price from N197 to above N500 per litre.

According to a widely circulated list, a new table of retail prices had been adopted for different geopolitical zones of the country.

Retail managers of NNPCL outlets were instructed to implement the review from May 31, 2023.