The Nigeria National Petroleum Corporation (NNPC) Ltd appears to have reviewed the price of Premium Motor Spirit (PMS) from N617 per liter to N855.
This is the new information that has emerged despite the hardship Nigerians are facing with long queues at petrol stations.
Trouble started as a video circulating on social media claims that NNPC filling stations have jacked up fuel pump price by oner N200.
According to the voice in the video, NNPC filling station at Awolowo Road, Ikoyi, Lagos State, had retailed fuel at N855.50 per litre at an unstated date, presumably today.
Many filling stations across Nigeria have withheld the product from the public, while the ones that sell do so at higher prices.
The frustration have made Nigerians to ask questions about what caused the scarcity and if it was meant to serve as a precursor to a planned increase in fuel price.
According to NNPC, the reason for the fuel scarcity is because it owes a humongous $6bn, reportedly occasioned by debt supply costs of petrol that affected supply sustainability.
Unconfirmed reports say the new upward review of fuel pump price will take effect from today, Tuesday 3 September, 2024.
It was gathered from depot operators that N250 had been added to the fuel pump price, while some major marketers have already raised pump prices to N855 per litre.
NNPCL spokesperson, Olufemi Soneye, declined to comment on the suspected new fuel pump price.
See the video:
