Amid a lingering fuel scarcity and crisis, the Nigerian National Petroleum Company (NNPC) has adjusted the fuel price from N650 to N855.
Apparently to avoid any backlash that could trail the new price, the NNPC, as gathered, directed its outlets to adjust the pump prices with over 30 percent increments.
The increments were discovered on Tuesday at dispensing machines of government-backed NNPCL stations in Lagos and Abuja.
Meanwhile, other private owned stations have adjusted their price to N897 per litre.
As gathered, the price has been reviewed upward to reflect the global price and reduce the debt burden on NNPC.
This came barely two days after NNPC management disclosed that the firm is owing suppliers of the products $6 billion.
The NNPC spokesperson, Femi Soneye, has denied any adjustments in prices, stressing that the old price still remain.
Earlier the Federal Government had denied reports that it directed NNPC to peg fuel prices at 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
