NNPC said the current increase in petrol pump price does not reflect free market conditions.
INVESTIGATION: Beyond the Facade: Unveiling the Violence in Nigeria’s ‘Peaceful’ Presidential ElectionsINVESTIGATION: Inside Nasarawa schools where teaching, learning are tortuous, dangerousThe invisible obstacle to personal growth, By Mohammed Dahiru AminuINVESTIGATION: How displaced Nigerian villagers are massacred in search for food
On Tuesday, NNPC Ltd adjusted the pump price of petrol to N897 from N617 as motorists and commuters grumbled amid the uncertainty. Other independent stations have also adjusted their pump prices, in some instances above N900 per litre. “It should be a free market, unrestricted market-based conditions…what’s sustainable is the unrestricted free market pricing of PMS. That way, competition takes over, and Nigerians will get the best.
“So, we are ensuring that deliveries are made to stations. We are doing our best to make sure that there are no diversions,” he added.
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.
EXCLUSIVE: NNPC gets Tinubu's nod to spend federation's dividends to defray petrol subsidyPresident Bola Tinubu has approved a request by NNPC Ltd to utilise the 2023 dividends due the federation to pay for petrol subsidy
Read more »
Tinubu approves use of NNPC dividends for payment of petrol subsidyThe president approved Mr Kyari’s request on 6 June, a report has said.
Read more »
NNPC: We are selling petrol at half the landing cost -- but it is not subsidyNigeria's independent online newspaper
Read more »
Newspaper Headlines: How $6bn NNPC debt is causing petrol supply hitchesReports on how $6 billion owed to suppliers worsened the lingering petrol scarcity in many parts of the country, dominate the frontpages of Nigerian newspapers today
Read more »
BREAKING: NNPC acknowledges debts to suppliers as petrol scarcity bites harderThe Nigerian National Petroleum Company (NNPC) Limited has admitted to owing suppliers of premium motor spirit (PMS), also known as petrol.
Read more »
FG speaks on reported directive to NNPC to increase petrol priceThe NNPC had on Sunday lamented heavy debt burden, saying its inability to settle its liabilities to suppliers was threatening its operations.
Read more »