BREAKING: NNPCL Raises Nationwide Petrol Pump Prices

NNPCL has raised the pump price of petrol across Nigeria. Stay updated with the latest developments on this nationwide price increase.

It appears likely that the Nigerian National Petroleum Company Limited (NNPCL) has increased the nationwide pump price of Premium Motor Spirit (PMS), also referred to as petrol.

A video that has been making rounds on the internet reveals the escalation in petrol prices to N855 per litre at an NNPCL filling station located in Ikoyi, Lagos. This marks a substantial rise from its earlier rate of N568.

After a distressing announcement by the NNPCL concerning its financial hardships, including an accumulated debt of about $6 billion, this increase in price has been observed.

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Given that Nigerians are already struggling with increased living expenses, the surge in gasoline prices is expected to have extensive ramifications on both consumers and the economy.

Amidst the persistent difficulties in the oil industry and an urgent requirement to meet its financial commitments, NNPCL has decided to increase prices.

Consumers and stakeholders should closely monitor the situation as it progresses, and be prepared for any potential additional changes in petrol pricing.

Further information will be provided…