The Nigerian National Petroleum Company (NNPC) Limited has increased the price of petrol, News About Nigeria has learnt.
On Tuesday, a noticeable price hike was observed at two NNPC fuel stations in Lagos, with petrol selling for N855 per litre, up from the previous price of around N600.
This was seen at the Berger and Awolowo Road stations in Ikoyi.
The sudden adjustment is coming amid petrol scarcity, which has affected business activities nationwide.
Some media reports had on Tuesday claimed that the price adjustment was due to a directive of the federal government asking the NNPC to sell at N1,000.
Heineken Lokpobiri, minister for petroleum resources (oil), said the ministry didn’t give such orders.
In a statement signed by Nnemaka Okafor, his media aide, Lokpobiri said reports of price directives were “ill-conceived to sow discord and confusion in the oil industry.”
“The Federal Government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited to inflate petroleum prices above the approved pump price,” the statement reads.
“We categorically condemn these claims as baseless, malicious, and a deliberate attempt to incite public discontent. We challenge anyone in possession of any evidence—be it written documents, audio, or video recordings—that supports these fabrications to make it public.
“Such a claim is entirely devoid of truth and should be recognised as an intentional effort to mislead the public. It must be stressed that NNPCL operates as an independent entity under the Companies and Allied Matters Act, with a fully empowered Board of Directors.”
Lokpobiri said the ministry does not and will not interfere in the internal decisions of NNPC, including pricing matters.
