NNPC Hikes Fuel Price to N897 Per Litre

The Nigerian National Petroleum Company Limited (NNPC) on Tuesday raised the pump price of petrol to N897 per litre from the official price of N617.

This is coming days after the national oil company said it was heavily constrained by the huge debt it owes international suppliers. The debt is estimated to be $6.8 billion

Eyewitnesses observed that many NNPC filling stations in Abuja had already effected the prices, with its downstream facilities selling for N897.

However, independent filling stations were selling for between N930 and N950 when our correspondent visited several filling stations in Abuja.

A separate signal to depot owners sighted by Economic Confidential confirmed the increase.

“This is to inform you that NNPC Retail Management has approved upward review of PMS pump price from N617/itre to N897/liter effective today, 3rd September . 2024.

“Please ensure all your pumps and totems (price boards)/MIDs reflect the new PMS price of N897/liter,” the message said.