August 12, 2022

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The Nigerian National Petroleum Company (NNPC) Limited has denied ordering marketers to increase the price and pump price of premium motor spirit (PMS), also known as petrol.

Recall that on Tuesday, July 19, the NNPC approved an increase in the pump price from N165 per litre to N179 per litre, as well as the ex-depot price from N148.17 to N167 per litre in a notice to oil marketers.

In an interview with TheCable, Garba Deen Muhammad, NNPC’s spokesperson, stated that the oil firm does not function as a regulator and thus does not set petrol prices.

He stated;

“The NNPC no longer approves pump price review. That is the work of the midstream and downstream authority.

“I have no idea. They are the ones that tell you what price regime the government has approved, not NNPC. NNPC has already exited all that situation. We are operating just like MTN now.”

An anonymous oil marketer also told the publication that the claims in the circulated message were “false” and “mischievous,” as nothing of the sort occurred between the government and marketers.


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