No Intention to Increase Petrol Pump Price – NNPC Limited
The Nigerian National Petroleum Company (NNPC) Limited has said that it has no intention of increasing the price of Premium Motor Spirit (PMS), popularly known as petrol.
Petrol subsidy was removed by President Bola Tinubu in May, allowing the forces of demand and supply to determine prices.
Currently, a litre of petrol is sold for between N562 and above N617 in the country.
The hike in the price of petrol has led to increase in transport fare and food prices, with the organised labour threatening the Federal Government with strike action if nothing is done to reduce the negative impact of petrol subsidy removal on the Nigerian people as well as providing an alternative fuel for motorists.
NNPC Limited in a statement posted on its social media handles on Monday, urged the people to disregard any speculation of intending increment in pump price.
“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.
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“Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide,” NNPC Limited said.
The national oil company’s statement came some hours after the leadership of the Nigeria Labour Congress (NLC) had warned that it will embark on indefinite nationwide strike should the Federal Government allow another hike in the price of petrol amid the ongoing negotiations with the government.
“As we’re here now, they’re contemplating increasing the pump price of petroleum products. And the Ministry of Labour, for some time now, will only go to the Ministry of Justice to come up with a so-called injunction to hold the hands of labour not to respond,” NLC President, Joe Ajaero, had said during his address delivered at the African Alliance of Trade Unions Executive Meeting in Abuja on Monday.
“But let me say this, Nigerian workers will not give any notice if we have not addressed the “consequences of the last two increases and we wake up from our sleep to hear that they have tampered with it again — the prices.”
