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Fuel subsidy: NNPC adjusts petrol pump price



The Nigerian National Petroleum Company (NNPC) Limited on Wednesday, confirmed the adjustment of the price of petrol across its retail outlets.

Garba Deen Muhammad, NNPC’s spokesperson, in a statement explained that the adjustment is in line with market realities.

Pump prices at NNPC’s retail outlets will now begin to vary to match market trends.

“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,” the statement reads.

“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 oil company said it regrets any inconvenience the development may cause Nigerians.

“We greatly appreciate your continued patronage, support, and understanding during this time of change and growth,” NNPC said.

The development, typical of a subsidy-free regime, comes at a time when Nigerians are uncertain as to whether the current petrol subsidy has ended as declared by President Bola Tinubu, or whether the policy would take off next month.