NNPC Denies Reducing Price Of Petrol, Diesel

The Nigeria National Petroleum Company (NNPC) has denied rumours making the rounds that it had reduced the price of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel).

In a press release signed by the company’s Chief Corporate Communications Officer, Olufemi Soneye, it said: “The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

“The company asserts that these reports are false and urges Nigerians to disregard them entirely.

“NNPC Ltd. reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country.”

On Tuesday (March 28, 2024) there was widespread news that the NNPC had made some adjustments to the cost of PMS and diesel that would result in a significant decrease in the price of the essential products. There were even rumours that the price of PMS and diesel had been adjusted in NNPC retail stations nationwide to N580 and N900 respectively.

The press release by NNPC may have effectively dampened the sigh of relief many Nigerians were set to heave as a reduction in the price of PMS and diesel along with the recent improvement in the Dollar-Naira exchange would have been the perfect news.

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