NNPC fuel stations adjust pump price to over N800 per liter
Despite scarcity, the Nigerian National Petroleum Corporation (NNPC) Limited fuel stations in Lagos have adjusted the price of petrol to N855.
On Tuesday morning it was noticed that some NNPC retail stations in Lagos are selling fuel between N865 to N897 per litre from N568 per liter.
This is coming after the recent admission by the NNPC that its capacity to supply petrol to local marketers is jeopardized by its debt obligations to international oil traders—amounting to approximately $6 billion.
In the past few weeks, fuel queues have been a common sight in major cities across Nigeria, leaving citizens struggling to obtain fuel.
“NNPC Ltd. Has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers. This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.
“In line with the Petroleum Industry Act (PIA), NNPC Ltd. Remains dedicated to its role as the supplier of last resort, ensuring national energy security. We are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide,” Soneye said.
