NNPC denies plan to increase fuel price

Nigerian National Petroleum Company has denied any plans to increase the price of Premium Motor Spirit (PMS).

The announcement made on its X handle reads: “ Dear esteemed customers, we at NNPC 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 NNPC Retail Stations nationwide.”

Oil marketers had said that if the dollar continues to trade at N910 to N950 at the parallel market, the cost of PMS would rise to between N680/litre and N720/litre in the coming weeks. 

Reacting to the plans of the oil marketers, the Organized Labor  vowed to proceed with a total, comprehensive and indefinite nationwide shutdown of the country, should there be another increase in Petrol Pump price from the existing 617 naira, which it describes as “illegal”.

NLC President, Joe Ajaero, gave the notification on yesterday, at the African Trade Union alliance meeting in Abuja, where organised labour also warned against undermining the demands of the union.