The Nigeria National Petroleum Corporation, NNPC, has stated that it jas adjusted its pump price despite the Independent Petroleum Marketers Association of Nigeria (IPMAN) sanctioning over 100 petrol stations selling petrol at exorbitant prices to Nigerians.
There has been panic buying and a hike in petrol prices since President Bola Ahmed Tinubu announced during his inaugural speech the removal of fuel subsidies.
In a statement on Wednesday, the Chief Corporate Communications Officer of NNPC Ltd., Garba Deen Muhammad who refused the new price of petrol disclosed that it will keep providing Nigerians with quality service and warned that prices will keep fluctuating to reflect market dynamics.
The statement titled, “ADJUSTMENT IN PUMP PRICE OF PMS” reads, ‘NNPC Limited wishes to inform our esteemed customers that we have adjusted our pump prices of PMS across our retail outlets, in line with current market realities.
As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.
We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products.
The company sincerely regrets any inconvenience this development may have caused.
We greatly appreciate your continued patronage, support, and understanding during this time of change and growth.’
Nigerians have embarked on panic buying of petrol and petrol stations now sell their petroleum products at N450 and N700 per liter in cities like Aba, Umuahia, Lagos and Abuja which has caused a lot of hardship for Nigerians as transport fares were also hiked.
