The Nigerian National Petroleum Corporation Limited, NNPCL has today confirmed the upwards review of fuel pump prices in Nigeria affirming the subsidy is gone. Chief Corporate Communication Officer, NNPCL, Garba Deen Mohammed confirmed this through a statement this afternoon Wednesday, 31st May, 2023. The statement partly reads, “NNPC Limited wishes to inform our esteemed customers that we have adjusted our pump prices of PMS across our retail outlets, in line with current market realities.
“As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.
“We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products.
“The company sincerely regrets any inconvenience this development may have caused. We greatly appreciate your continued patronage, support, and understanding during this time of change and growth.”
According to the new price list released by the Agency today, Lagos State has the least price of N488 per liter, while Maiduguri and Damaturu have the highest pump prices of N577 per liter.
Currently, in Abuja FCT and its environs, filling stations have already adjusted their prices to suit the new pump price.
This development is coming just two days as the new administration assumed office when the new president made it clear during his inaugural speech that the subsidy is gone.
Nigeria has spent up to N13.7 trillion on fuel subsidies in the country during the last 13 years, according to Nigeria's Extractive Industries Transparency Initiative.
