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The Nigerian National Petroleum Company Limited, NNPL said, it has no plans to hike the price of Premium Motor Spirit, PMS otherwise known as petrol.
The denial was at the backdrop of rumours making the round that plans are afoot by the NNPL to increase fuel due to daily loss of value of naira to US dollars.
Reacting through a post by the company around 11:48pm on Monday on its official X (formerly Twitter) handle, the national oil firm and major importer of petrol into Nigeria, said it had no intention to increase the pump price of petrol.
“Dear esteemed customers, we at NNPCL Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.
“Please buy the best quality products at the most affordable prices at our NNPCL Retail stations nationwide,” the company stated.
The NNPCL Retail is the downstream subsidiary of NNPCL that retails refined petroleum products for the group.
Recall that oil marketers had on Sunday indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
