In a swift response to recent media speculations, the Nigerian National Petroleum Company (NNPC) Limited has vehemently denied any plans to increase the price of petrol to N1,200 per litre. Social media platforms were ablaze on Wednesday with rumors of an impending fuel price surge, sparking mixed reactions across the nation.
Addressing the widespread concerns, NNPC’s rejoinder, issued by Group Communications Officer Olufemi Soneye, clarified the situation. The company emphasized that there are no intentions to hike the fuel price and labeled the headlines suggesting such a move as “unfortunate.”
The controversy arose from media reports claiming that petrol should now cost N1,200 per litre following an alleged exit from the under-recovery of fuel costs. NNPC refuted these claims, stating that it has not clashed with any party and that the subsidy reduction, if any, does not translate to an increase in petrol prices.
Soneye’s statement read, “NNPC Ltd emphasises it has not clashed with any party. The Punch headline is deemed unfortunate. The publication sought confirmation on the alleged subsidy reduction, to which NNPC responded that the subsidy has been entirely removed.”
In the wake of economic challenges facing the nation, NNPC’s clarification seeks to allay fears and quell the uncertainty surrounding fuel prices. The company asserts that the removal of subsidies does not equate to an immediate hike in fuel costs, aiming to provide transparency and clarity amidst the ongoing discussions.
