NIGERIA: Pump price of fuel hits N557 per litre, as NNPC confirms varied price adjustments

*NNPCL outlets to sell in Lagos for N488, across South West N500; Kebbi N545, across North West N540

*Borno, Yobe N557, across North East N550; Kwara N515, across North Central/FCT N537

*Abia, Imo N515, across South East N520; Akwa Ibom, Bayelsa N515, across South South N511

By KEMI KASUMU

The Nigerian National Petroleum Corporation Limited (NNPCL) has effected an upward review of pump price of petrol with different prices allocated to different geopolitical zones of the country.

A circulated table of adopted prices shows that fuel at NNPC’s outlets will now sell for N488 per litre in Lagos and N500 per litre across other five South West states against hitherto N184/N189 respectively, while Borno and Yobe states in North East have the highest of the pump price standing at N557 per litre and N550 across the four other states of the zone against hitherto N189.

According to the table, fuel will now sell in North West for N540 per litre except in Kebbi that will sell for N545 against hitherto pump price of N194.

In the six states of North Central plus Federal Capital Territory (FCT), the NNPC Ltd has adjusted pump price of fuel upward from hitherto’s N189/194 per litre to now sell for N537 except in Kwara State, where it will sell for N515.

Apart from Anambra Enugu and Ebonyi, where the price has been upwardly adjusted from N189 per litre to N520, NNPC Ltd’s outlets will now sell fuel in Abia and Imo states at N515.

In the South South where fuel sold for N194 per litre in two states of Akwa Ibom and Cross River and three others at N189, the new fuel pump prices per litre have been adjusted to N515 in Akwa Ibom and Bayelsa, with others sell for N511.

In the meantime, Mallam Garba Deen Muhammad, Chief Corporate Communications Officer, NNPC Ltd, has reportedly confirmed this development in a statement Wednesday afternoon.

“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,” he said.

Retail managers of NNPCL outlets were instructed to implement the review from May 31, 2023.

“DEAR ALL. Following Management approval of the Upward review of NNPC PMS pump price as in below table for Mega/Standard/Leased Stations, Please find below schedules for the RMSs and Wayne to handle. Please implement meter change as approved effective today 31st May 2023. Wayne is to attend to all locations as relates to their area of coverage in our network,” a statement reportedly read.