Home News NNPC debunks reports of Petrol price increase
News

NNPC debunks reports of Petrol price increase

434
Barely weeks after declaring a net profit of N3.3 trillion in the 2023 financial year, with a purported increase of over N700 billion (28%) when compared to the 2022 profit of N2.548 trillion, NNPC has announced it is under intense financial pressure.

The Nigerian National Petroleum Corporation (NNPC) has refuted social media reports suggesting an increase in Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

In a press statement released on Wednesday, the NNPC Communication Officer, Olufemi Soneye, maintained that the reports were false and urged Nigerians to disregard them.

The corporation reaffirmed its commitment to sustaining the current sufficiency of petroleum products supply across all its retail stations in the country.

Meanwhile, NNPC Retail Limited and Azikel Petroleum Limited signed a petroleum products sale and purchase agreement on Tuesday to enhance the distribution and availability of petroleum products across the country.

Read: Big Brother Naija Season 9 Audition Date Announced: Contestants to Audition in Pairs

About The Author

Written by
Mayowa Durosinmi

M. Durosinmi is a West Africa Weekly investigative reporter covering Politics, Human Rights, Health, and Security in West Africa and the Sahel Region

Related Articles

NewsPolitics

Cotê D’Ivoire: Thousands Rally in Abidjan as Opposition Demands Electoral Reforms Ahead of October Election

Thousands of opposition supporters gathered in Abidjan on Saturday, May 31, to...

News

Togo Stops Issuing Mining Permits to Reform Outdated Mining Code

Togo has suspended the issuance of new mining permits for prospecting and...

News

ICYMI: Ghana Shuts Down Washington Embassy Over Visa Fraud Scandal

Ghana has temporarily closed its embassy in Washington, D.C., following the uncovering...

In a ministerial meeting of the Confederation of Sahel States (AES) held in Bamako on January 16, 2025, key decisions emerging from the session include establishing a Regional Investment Bank and launching transformative infrastructure projects across member states.
News

Confederation of Sahel States Moves to Establish Joint Judicial Body

The Confederation of Sahel States (CSS), comprising Mali, Niger, and Burkina Faso,...