NNPC: No plan to hike petrol price

The Nigerian National Petroleum Company Limited (NNPC)  on Friday reiterated its stand that it had no plans to raise the price of petrol.

Nigerians have been apprehensive as rumours of a planned price increase continue despite several attempts by the government to debunk the insinuations.

The rumours intensified after reports that the federal government had restored some level of subsidy on the product as the twin impact of the devaluation of the naira and rising crude oil prices took their toll on diesel, kerosene and jet fuel.

In a statement posted on its handle on X, formerly called Twitter, the national oil company urged Nigerians to ignore the unsubstantiated reports of a planned hike.

It added: “Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our Premium Motor Spirit (PMS) pump prices as widely speculated.

“Please buy the best quality products at the most affordable prices at our NNPC retail stations nationwide.”

Since May 29, when President Bola Tinubu announced the removal of fuel subsidy, the price of the product has increased by over 200 per cent nationwide.