The increase in the price of Premium Motor Spirit, more commonly known as petrol, to above N500 per litre, depending on the location of purchase, was verified by oil marketers on Wednesday.
Marketers claim that a document with figures that were referred to as the “Current NNPC Pump Price” and “New Pump Price Per May 31, 2023” of petrol, as well as the “Current NNPC Pump Price as of May 31, 2023,” came from the Nigerian National Petroleum Company Limited. The document also showed the most recent price of PMS in different states and the Federal Capital Territory.
According to figures in the document, although the price of gasoline was listed as N557 per litre in Borno State, it was listed as N488 per litre, N537 per litre, N520 per litre, and N500 per litre in Lagos, Abuja, Enugu, and Ekiti.
Although officials of NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority kept mute about the document when contacted, oil marketers told stated that the document was authentic.
Billy Gillis-Harry, the president of the Petroleum Products Retail Outlets Owners Association of Nigeria, verified the document’s veracity and hinted that the NNPCL had increased the price of petrol to above N500 per litre in a number of states.
When asked if the document about the new petrol pump pricing that the NNPCL allegedly gave to oil marketers was accurate, Gillis-Harry responded, “Correct.”
