By Damilare Adeleye
Reports have emerged that the Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit popularly known as petrol nationwide.
A video obtained on Tuesday morning revealed that the product sold for N855 per litre at an NNPCL filling station in Ikoyi, Lagos, up from N568.
It was learnt that a litre is sold for as high as N925 at NNPC station in Port Harcourt Rivers State.
Some filling stations in Kano are reportedly selling for N904 and other places, N1200 per litre.
Other filling stations owned by marketers have also increased the price accordingly, with a litre being sold at over N1,000.
Although the NNPCL has not officially confirmed the increase, it has hinted at a possible increase as the landing cost reportedly surged above N1,000/litre.
The hike is coming barely 48 hours after the NNPCL noted that that it owed importers about $6bn debt.
The NNPCL Chief Corporate Communications Officer, Mr. Olufemi Soneye had told Daily Trust on Monday that the company had been subsidising petrol with N500 per litre for a year.
“I think the important thing for us on our own part is to let the whole world know that we are in trouble if we continue. NNPC has been paying N500 per litre for every Nigerian that has been buying fuel within the past one year.
“So, the truth of the matter is that Nigerians have been getting cheap fuel because the NNPC is doing something for them. NNPC has been bearing the shortfall and it is now unbearable. The landing cost is N1,100, that shortfall is what we have been bearing,” he said.
On the petrol price increase, Soneye said he was not aware of any price development.
“I’m not aware of this. Thank you for reaching out. I have no comment on the matter at this time.
“If there are any updates, I will make sure to inform you. I appreciate your understanding,” he responded via WhatsApp.