Following President Bola Tinubu’s announcement of fuel subsidy removal on Monday during his inaugural speech, the Nigerian National Petroleum Company Limited (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.
Fuel Subsidy Removal: Nigerian Petroleum Company, NNPCL Releases N488 To N557 Fuel Pump Price Per Litre Across 36 States, AbujaAccording to the released price list, the new pump price for fuel, also known as premium motor spirit , ranges from N488 in Lagos State to N557 per litre in Yobe and Borno states, while it is N537 in Abuja.
According to the released price list, the new pump price for fuel, also known as premium motor spirit , ranges from N488 in Lagos State to N557 per litre in Yobe and Borno states, while it is N537 in Abuja. 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.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigerian Petroleum Company, NNPC Confirms Plan To Remove Fuel Subsidy, Cautions Against Panic Buying | Sahara ReportersThe Nigerian National Petroleum Company Limited (NNPCL) has given its support to the immediate removal of fuel subsidy by President Bola Tinubu on Monday. This was said by the GCEO of the company, Mele Kyari, in a statement who noted that the company had been spending a huge amount of its profits on fuel subsidy, indicating that its removal would be a huge relief for NNPC.
Read more »
Nigerian Petroleum Marketers, IPMAN Opposes President Tinubu's Subsidy Removal Plan | Sahara ReportersThe Independent Petroleum Marketers Association of Nigeria (IPMAN) has opposed the declaration by President Bola Tinubu to enforce his predecessor’s decision to remove fuel subsidy by June ending. Tinubu had earlier on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products. He had said given the high opportunity cost the Federal Government was suffering to fund subsidies, it was no longer justifiable to continue.
Read more »
BREAKING: Petrol Queues Resurface In Abuja Hours After Tinubu Vowed To Remove Fuel Subsidy | Sahara Reporters
Read more »
Fuel queues hit Abuja, other cities as Tinubu announces subsidy removalSubsidy can no longer justify its ever-increasing costs in the wake of drying resources, Mr Tinubu said.
Read more »
Fuel Queues: Nigerian regulatory agency warns against panic buying'We, therefore, call on Nigerians to remain calm and resist the urge to stockpile as it poses a significant safety hazard,' an official said.
Read more »
Fuel Subsidy Removal In Line With Petroleum Industry Act; No Need For Panic Buying – Nigerian Downstream Agency, NMDPRA | Sahara ReportersThe Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that Nigerians should not panic over President Bola Tinubu’s announcement of fuel subsidy removal as it is in line with the Petroleum Industry Act (2021). NMDPRA in a statement by its General Manager, Corporate Communications, Kimchi Apollo, stated that the Petroleum Industry Act (2021) provides for total deregulation of the petroleum downstream sector to drive investment and growth.
Read more »