NNPC debunks rumors of petrol price reduction

The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims circulating on social media regarding a reduction in the pump prices of petrol and diesel.

In a statement issued by the NNPCL spokesperson, Olufemi Soneye, the company categorically denied these rumours, urging Nigerians to disregard them entirely.

The clarification comes in response to posts on various social media platforms suggesting that the NNPCL had decreased the pump price of petrol to below N600 and diesel to below N900.

However, the NNPCL emphasised that these reports are false and assured the public of its commitment to maintaining the current sufficiency of petroleum product supply across all its retail stations nationwide.

Reacting, the firm said: “The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit and Automotive Gas Oil at its retail stations nationwide.

“The company asserts that these reports are false and urges Nigerians to disregard them entirely.

“NNPC Ltd reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country.”

This announcement follows the removal of fuel subsidies by President Bola Tinubu on May 29, 2023, which led to a significant increase in the pump price of petrol, soaring to over N600 from about N200 during the Muhammadu Buhari administration.