Concerns Mount As NNPCL Outlets Peg Fuel Pump Price At N897 per litre

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September 3, 2024

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By Abiola Olawale

The Nigerian National Petroleum Company Limited (NNPCL) has increased its pump price of fuel from N617 per litre to N897 per litre.

The New Diplomat gathered that several outlets owned by the NNPCL in Abuja, Lagos and some other parts of the country have begun selling petrol at the new price rate.

This represents an increase of over 45 per cent and also comes amid ongoing fuel scarcity.

Meanwhile, the NNPCL is yet to release an official statement announcing the price increment.

It also comes two days after the NNPCL admitted the company’s “significant debt to petrol suppliers”, saying it poses a threat to the sustainability of fuel supply.

There has also been reports that the burden of petrol prices has pushed the NNPCL into over $6 billion in debt.

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