Ogasabi on 9am News reveals that the Nigerian National Petroleum Company (NNPC) Limited has raised the price of petrol to N897 per litre nationwide. This price hike has already taken effect at various NNPCL gas stations across the country.
According to sources from 9am News Nigeria, marketers were notified of the new pricing structure early in the morning, with a base price of N870 per litre, after which they add their margins. As a result, NNPC Retail will sell petrol for N897 per liter in Abuja, Price is N904 per liter in Kano, and N924 per liter in Yola. Independent and major marketers are expected to charge higher prices.
Dangote Refinery On Petrol
Adding to the developments, Dangote has released products from its refinery, delivering 25 million liters of petrol into the domestic market. They expect this volume to increase to 30 million liters per day starting in October 2024.
Previously, the NNPCL, as Nigeria’s sole gasoline importer, consistently denied subsidizing petrol or revealing the product’s landing cost. However, on Sunday, the corporation acknowledged that the supply prices of Petrol are straining its finances.
Amid the fuel price hike, another group of marketers claimed that the government had approved a petrol price of N1000 per litre during a recent shortage. The Federal Government, however, has refuted this claim. In a statement issued by his media aide, Nnemaka Okafo, Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, dismissed the allegation as a ploy to create division and confusion within the oil industry.
Nnemaka further stated, “The FG never interfered in petroleum pricing with NNPCL, much less issued orders for price increases. We vehemently denounce these accusations as malicious, vile, and a calculated attempt to stir up unrest among the populace.”
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