The Nigerian National Petroleum Corporation Limited (NNPCL) has officially announced an increase in the pump price of petrol. Garba Deen Muhammad, Chief Corporate Communications Officer of NNPC Ltd, confirmed this development in a statement released on Wednesday afternoon.
He says in accordance with the present market conditions, NNPC Limited would like to notify their valued customers that they have made revisions to the pump prices of PMS at their retail outlets. They remain committed to delivering the excellent service they are renowned for, and it is important to acknowledge that prices will fluctuate in order to align with market dynamics.
He further gives assurance that NNPC Limited is committed to ensuring a ceaseless supply of products and that the company sincerely regrets any inconvenience this development may have caused as they greatly appreciate the continued patronage, support, and understanding during this time of change and growth.
A recently circulated list states that a revised table of retail prices has been introduced for various geopolitical regions within the country. As of May 31, 2023, retail managers of NNPCL outlets have been directed to enforce the updated pricing structure.
A statement mentioned, “DEAR ALL. Following Management approval of the Upward review of NNPC PMS pump price as in below table for Mega/Standard/Leased Stations, Please find below schedules for the RMSs and Wayne to handle. Please implement meter change as approved effective today 31st May 2023. Wayne is to attend to all locations as relates to their area of coverage in our network”
The revised price schedule indicates that petrol will be priced at N557 per litre in Maiduguri, Borno State, and Damaturu, Yobe. In the remaining areas of the North East zone, it will be sold for N550 per litre. Birnin Kebbi will have the highest price in the Northwest zone, purchasing petrol at N545 per litre.
In the North Central zone, the average price will be N537 per litre, except in Ilorin, where it will be N515 per litre. In the South East, consumers can expect an average price of N520 per litre, while in the South South zone, with the exception of Uyo and Yenegoa, petrol will be priced at N511 per litre.