The Nigerian National Petroleum Company Limited (NNPC Ltd.) has dispelled rumors suggesting an adjustment in the pump price of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail outlets nationwide.
Chief Corporate Communications Officer at NNPC Ltd., Mr. Olufemi Soneye, stated in a Wednesday statement that the reports were unfounded.
There were media reports on Monday indicating a reduction in the ex-depot price of PMS from N640 to N630 for independent oil marketers, while NNPC Ltd. maintained its N570 price.
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The new N630 ex-depot price for independent marketers reflects only a one percent reduction, following NNPC Ltd.’s decision to directly supply products to these marketers while maintaining its N570 ex-depot price.
This change contrasts with the previous practice where independent marketers obtained supplies from private depots.
The news prompted reactions from Nigerians who speculated that NNPC Ltd. had lowered the pump price at its retail outlets from N617 to N570.
Soneye, however, urged Nigerians to dismiss these reports entirely and reaffirmed NNPC Ltd.’s commitment to maintaining the current sufficiency in petroleum product supply across all its retail stations in the country.
