NNPC Speaks On Increasing Fuel Price in Nigeria Again

NNPC has spoken on increasing fuel price in Nigeria again.

Newsone Nigeria reports that the Spokesperson of Nigerian National Petroleum Company Limited, Olufemi Soneye, says he is unaware of any fresh Premium Motor Spirit pump price increase across its retail outlets.

Soneye told DAILY POST in an exclusive interview on Tuesday, October 29, 2024.

This online news platform understands that the NNPC Spokesperson’s comment comes amid speculation that NNPCL had increased the fuel pump price from N1,030 per litre to N1060 in Abuja.

However, the state-owned oil firm spokesperson, Soneye, said, “There is no increase in gasoline price that I am aware of.”.

Similarly, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said NNPCL’s ex-depot price has not changed.

“For independent marketers, we have experienced a fresh price hike as I am speaking with you. NNPCL still sells to us at the same price.

“For Port Harcourt, it is N1040 per litre; Abuja and Lagos are around N990 per litre,” he told DAILY POST on Tuesday.

Earlier, the President of Dangote Group, Aliko Dangote, said petroleum marketers are ignoring its refinery’s 500 million litres of fuel.

The Dangote Group Chairman made this comment on Tuesday, October 29, 2024, shortly after key stakeholders in the oil and gas sector met with President Bola Tinubu in a bid to address the lingering fuel scarcity despite a hike in the commodity.

According to him, Dangote Refinery has the capacity to produce more than 30 million litres of fuel daily but since he is not in the business of retailing, the products cannot get to Nigerians who need them because the retailers are not coming to pick it up.

Dangote lamented that he is running at a loss by storing huge stocks of fuel in tanks, while Nigerians are groaning in the streets without stocks.

Speaking to State House Correspondents after the meeting, Dangote said, “Yes, we have enough supply of crude, we can actually produce much more than 30 million litres every day. At full capacity, we can even supply whatever is being consumed. But what I estimated as consumption, which I believe may be about 30, 32 million that one we can even start producing by next week.

“It is not really an issue, because, as we speak today, we have 500 million liters, you know, in our tanks. So 500 million liters in our tanks even if there’s no production from anybody or no imports. This will take the country more than 12 days, you know, with no imports, with no production, nothing.