Home Nigeria NNPC Petrol Price Increases Nationwide Days After Removal of Fuel Subsidy

NNPC Petrol Price Increases Nationwide Days After Removal of Fuel Subsidy

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Fuel Subsidy
 NNPC Petrol Price

By Uche Amunike

The Nigerian National Petroleum Company Limited, (NNPCL) petrol price has increased just a few days after President Bola Tinubu  announced the removal of fuel subsidy in the country.

According to a circular released by the NNPCL, the approval became effective, Wednesday 31st May, 2023.

Nigerian cities have begun to experience fuel queues ever since President Bola Tinubu made his announcement and motorists have been struggling to get petroleum products for their private and commercial uses.

Recall that on Monday, during his inaugural address at the Eagles Square, Abuja, President Bola Tinubu declared that having fuel subsidy was no longer sustainable in Nigeria and as such, he would end it immediately.

His words: ‘We commend the decision of the outgoing administration in phasing out the petrol subsidy regime, which has increasingly favored the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.’

‘We shall, instead, re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.’

According to the circular released to newsmen, the NNPC petroleum price has been adjusted and these adjustments differ from state to state. The price for Abuja and Nasarawa State was moved from N189 to N537 per litre, while that of Plateau state was increased from 189 naira to 537 naira per litre, with Kwara state increasing from 189 naira to 515 naira per litre.

In Kogi state, the NNPC petrol price was increased from 189 naira to 537 naira per litre. While Benue was increased from 189 naira to 537 naira per litre, as well as Niger State.

Adamawa state was increased from 199 naira to 550 naira per liter, while Taraba state was increased from 199 naira to 550 naira per litre, as well as Bauchi and Gombe states.  Borno State was increased from 199 naira to 557 naira per litre as well as Yobe state.

In Kano state, the NNPC petrol price was increased from N194 to N540 per litre, while Kaduna State was increased from 194 naira to 540 naira per litre, as well as Katsina state, Sokoto State, Jigawa State and Zamfara State.

Kebbi state NNPC petrol price however, now stands at N545, as against N194.

In the southeast, the NNPC petrol price in Abia and Imo states also suffered an increase from N189 to N515, while Anambra, Enugu and Ebonyi states where increased from 189 naira to 520 naira. Rivers States was increased from 189 Naira to 511 Naira, as Akwa Ibom has moved from 194 naira to 515 naira per litre. Bayelsa was increased from 189 naira to 550 naira, as Cross River state fuel price rose from 194 naira to 511 naira. Edo state, moved from 189 naira to 511 naira, while, on their part, Delta State was moved from 189 Naira to 511 Naira.

In the southwest, Lagos State was increased from 184 naira to 488 naira, while Ogun, Oyo, Osun, Ondo and Ekiti states were increased from 189 naira to 500 naira.

In confirmation of the adjustments in prices, Wednesday, the Chief Corporate Communications Officer of the NNPCL, Garba Deen Muhammad, said that they adjusted the pump prices of PMS across retail outlets in order to meet up with the current market realities.

His words: ‘NNPC Limited wishes to inform our esteemed customers that we have adjusted our pump prices of PMS across our retail outlets in line with current market realities.’

‘As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.’

‘We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products. The company sincerely regrets any inconvenience this development may have caused.’

‘We greatly appreciate your continued patronage, support, and understanding during this time of change and growth’.

 

 

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