By Modupe Gbadeyanka
Contrary to the rumours making the rounds in the past few days, the Nigerian National Petroleum Company (NNPC) Limited has not reduced the pump price of premium motor spirit (PMS), otherwise known as petrol.
The state-owned oil agency, in a statement on Wednesday night, confirmed that it was yet to slash the price of the product, describing the social media reports of the purported price adjustment as fake.
The NNPC emphasised that the price of fuel at its retail stations across the nation remains unchanged, same as the pump price of Automative Gas Oil (AGO), also known as diesel.
“The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.
“The company asserts that these reports are false and urges Nigerians to disregard them entirely.
“NNPC Limited reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country,” the terse statement signed by the Chief Corporate Communications Officer at NNPC, Mr Olufemi Soneye, said.
There had been reports that the price of petrol has been reduced by the NNPC following the recent steady appreciation of the Naira to the US Dollar in the foreign exchange (FX) market.
It was speculated that the product was now selling at N488 per litre at the company’s retail stations in Lagos compared with N568 per litre, which is its current price.