The National Oil Corporation, NNPC said that the adjustment of pump prices was in conformity with current market realities in a statement issued on Wednesday and signed by its chief communication officer, Garba Deen Muhammad.
Nigerian National Petroleum Corporation (NNPC) acknowledged the adjustment of pump rates in response to the newly sworn-in President of Nigeria’s inauguration speech on Monday, May 29th.
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The NNPC has produced a price list detailing the new petrol pump prices nationwide.
According to Nigerians, this absurd list from NNPC varies from #488 to #557. With stages such as Lagos at #488 per liter, Abuja at #537, Ogun, Oyo, Ondo, and Ekiti at #500 per liter, Rivers, Edo, Delta, and Cross river at #511 per liter.
Kwara, Abia, Imo, and Akwai-ibom at #511 per liter, Enugu, Ebony, Anambra at #520, Kaduna, Kano, Katsina, YouTube, and Borno at #537-#550 per liter. This sudden increase in pump prices across different locations ignited protests nationwide.
In addition, the NNPC declared, “We assure you all, we are working hard and committed to ensuring a continuous supply of PMS across the country, so locals should not panic.”
The company sincerely apologizes for any inconvenience the new development may have caused since this is simply the market’s current reality. We appreciate your patronage and support, and we wish you all the best during this period of transition and progress.”
Many people are outraged by the NNPC’s latest decision. The Nigerian Labor Congress, or NLC, has also reacted to the NNPC’s press release, calling it inappropriate and demanding that it be retracted immediately.
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The NLC President, Joe Ajaero, has urged that the federal government, FG, should instruct the NNPC to drop the “Vexatious pricing.” He went on to warn Nigerians not to fall for the FG and NNPC’s deception and not to buy petrol at such pump prices.
He also stated that good-faith discussions are essential for reaching an accord. Negotiations on subsidy elimination with the NLC and the federal government have been scheduled.
