The price of fuel has now increased to N617 per litre, marking a significant shift from its previous rate of N539. GOVIMA confirms this.
The specific cause remains uncertain, but it appears to be linked to recent projections by oil marketers suggesting an imminent rise in fuel prices to N700 per litre.
Recall that Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA), had assured Nigerians that it has no intention of increasing the fuel pump Price against what is proposed by some oil and gas financial experts.
NNPC reacts…
When contacted NNPC about the latest development, Mr. Douglas, a staff of Nigerian National Petroleum Corporation who spoke to us said” the price increase is not from us and appeal NNPC Retail would is in best position to clear the hike matter.
When contacted NNPC Retail office, Mrs. Udak holds that fuel price still sells at the normal price, maintaining she would have changed the price if a circular has been announced to the effect for price change.
“I still sell at the normal price , I don’t know why some fuel stations are selling for N617 . If we’re to sell for that amount, we would have been notify About the new development”
…it is only to cause panic….
GOVIMA emphasizes that the reported increase in fuel price to N617 per litre is not official. It is regarded as a deliberate attempt to create confusion and induce panic buying among Nigerians.
On Sunday, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), announced that oil marketers have commenced the importation of petrol into the country, indicating an adequate supply to meet the nation’s demands.
Neither did the chief executive officer of NMDPRA, Farouk Ahmed announced an increase in price during his meeting with stakeholders, yesterday.
