The Nigerian National Petroleum Company Limited (NNPC Ltd.) has categorically refuted rumors circulating regarding an adjustment in the price of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail outlets nationwide.
In a statement issued on Wednesday by Mr. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., it was emphasized that the reports suggesting price alterations were entirely false.
Contrary to the speculations, there had been reports in certain media segments on Monday asserting a reduction in the ex-depot price for PMS from N640 to N630 for independent oil marketers, while NNPC Ltd. purportedly maintained its price at N570.
However, Soneye clarified that the new ex-depot price of N630 for independent marketers represented only a marginal one percent reduction. This reduction ensued following NNPC Ltd.’s decision to directly supply the product to the marketers, while still maintaining its ex-depot price at N570.
Previously, independent marketers had been sourcing their supplies from private depots. The alteration in the distribution system has led to misunderstandings among Nigerians, with some assuming that NNPC Ltd. had consequently reduced the pump price at their retail outlets from N617 to N570.
Soneye urged Nigerians to dismiss these reports entirely, emphasizing NNPC Ltd.’s steadfast commitment to ensuring the sustained sufficiency in petroleum product supply across all its retail stations nationwide.
