The Nigerian National Petroleum Corporation (NNPC) Limited has raised the price of fuel from N617 to N897 per litre.
This is a rise of over 45 percent. The price change took effect on Tuesday morning, just two days after NNPC said it was struggling with debts of over $6 billion due to fuel costs.
Reports confirmed the new price at NNPC Retail stations in Abuja. When asked about the increase, NNPC’s Chief Communications Officer, Mr. Olufemi Soneye, said he did not know about the price change.
“I’m not aware of this. Thank you for reaching out. I have no comment on the matter at this time. If there are any updates, I will make sure to inform you. I appreciate your understanding,” he replied via WhatsApp.
Earlier, an unconfirmed message on social media hinted at the new price. The message stated that NNPC Retail Management had approved the price hike effective September 3, 2024. The message instructed all fuel stations to update their pumps and price boards to reflect the new price of N897 per litre.
