NNPC Increases Petrol Pump Price Amid Hardship Under President Tinubu [Video]

NNPC has increased the Petrol Pump Price amid the current hardship under President Tinubu.

Newsone Nigeria reports that the Nigerian National Petroleum Company (NNPC) Limited has increased the pump price of Premium Motor Spirit from N650 to N855 per litre across Nigeria.

This online news platform understands that “oil marketers were informed this morning of N870 after which they add their margins” amid a lingering fuel scarcity and crisis in the country.

According to pump price displays on fuel dispensers at the government NNPC stations in Lagos and Abuja on Tuesday, September 3, 2024, showed N855 per litre, cementing claims that the price has been reviewed upward to reflect the nation’s current foreign exchange woes and fuel landing cost hassles.

Other filling stations adjusted their price to N897 per litre on Tuesday morning, though the NNPCL spokesperson, Femi Soneye, claims not to be aware of the recent Petrol Pump Price increase.

Watch the video of the petrol pump price at NNPC retail station below…

Have you seen this…?
After the protest to reintroduce the subsidy, fuel price has gone higher than it was.
NNPC is a lie manufacturing and packaging company #fuel pic.twitter.com/R2n6TDWm7q

— A. J. Ogwuche Esq (Lord_Lumen) (@A_J_Ogwuche_Esq) September 3, 2024

The fuel prices have dwindled between N580 per litre to N700 per litre since Bola Tinubu emerged as Nigeria’s president and announced the removal of fuel subsidies on May 29, 2023.

In recent weeks, Nigeria has suffered an acute fuel scarcity that led the few stations with fuel to sell at exorbitant prices above N900 per litre while black market prices exceeded N1,000.

On Tuesday, the President Tinubu-led government issued a statement denying reports that pegged the official fuel increase to N1,000.

“The federal government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited to inflate petroleum prices above the approved pump price,” said the statement by Nnemaka Okafor, special adviser, media and communication, to the Minister for Petroleum Resources (Oil), Heineken Lokpobiri.

Meanwhile, Newsone reports that the petrol pump price increase is coming weeks after Nigerians stormed the streets nationwide to protest the current hardship faced by President Bola Tinubu’s administration. The protest was tagged: EndBadGovernance Protest.