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

The New Diplomat
Writer

Ad

The Need for Nigeria to Lead Africa in the Emerging Age of Artificial Intelligence

By Sonny Iroche Introduction: Standing at the Threshold of the Fourth Industrial Revolution The world is on the cusp of a seismic transformation driven by Artificial Intelligence (AI). Just as steam engines powered the first Industrial Revolution, electricity and mechanization the second, and digital computing the third, AI is the defining force of the Fourth…

Why Wike Should Resign or Be Sacked: A Call to Organized Civil Society in Nigeria to Uphold Anti-corruption Standards with Consistency, By Frank Tietie

By Frank Tietie The revelations by Nigerian social crusader, investigative journalist, and activist Omoyele Sowore regarding the current Minister of the Federal Capital Territory, Nyiesome Wike, are serious and warrant the attention of all Nigerians who care about the integrity of the country. Sowore has alleged that Wike laundered funds and concealed the purchase of…

Dangote Refinery Slams PENGASSAN, Describes Order as ‘Economic Sabotage’

By Abiola Olawale In an escalating labor showdown, the Dangote Petroleum Refinery has fired back at the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), criticising the latter’s order on Saturday. This is as the refinery owned by Africa’s richest person, Alhaji Aliko Dangote described PENGASSAN's order to cut crude oil and gas…

Ad

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.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp