The Nigerian National Petroleum Company Limited has announced that it has adjusted its pump prices of premium motor spirit, also known as petrol at its retail outlets across the country to reflect the fuel subsidy removal.
In a statement issued on Wednesday by its Chief Corporate Communications Officer, Garba Deen Muhammad, the company said, “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.”
SaharaReporters earlier reported that following President Bola Tinubu’s announcement of fuel subsidy removal on Monday during his inaugural speech, the NNPCL on Wednesday morning released a list of adjusted pump prices for its mega stations across the 36 states of the federation and the Federal Capital Territory, Abuja.
According to the released price list, the new pump price for fuel, also known as premium motor spirit (PMS), ranges from N488 in Lagos State to N557 per litre in Yobe and Borno states, while it is N537 in Abuja.
It was gathered that the NNPCL management has instructed all the management of its mega stations across the country to immediately implement the new price at all their Mega/Standard/Leased Stations.
The development has been confirmed in Port Harcourt, Rivers State capital and Yenagua, Bayelsa state capital where the NNPCL mega stations are opened for sale but motorists refused to buy the product at the new price as they lament that the price is beyond what they can afford.
There have been agitations across the country over the announcement of the fuel subsidy removal by President Tinubu with the immediate geometric price hikes of the product following the announceme