JUST IN: NNPC Hikes Petrol Price by Over 45%, Pushes Per-Litre Cost to N897 Amid Hardship

Just two days after announcing that it was burdened with over $6 billion in debt due to rising petrol prices, the Nigerian National Petroleum Corporation (NNPC) Limited raised the pump price of fuel from N617 to N897 per litre on Tuesday morning—a staggering increase of over 45 percent.

Spot checks at NNPC Retail stations in Abuja confirmed the new pricing. However, when reached for comment, NNPC’s Chief Communications Officer, Mr. Olufemi Soneye, claimed he was unaware of the price hike, stating, “I’m not aware of this. Thank you for reaching out.

I have no comment on the matter at this time. If there are any updates, I will make sure to inform you. I appreciate your understanding.”

The increase was foreshadowed by an unconfirmed message circulating on social media that hinted at the new price adjustment, advising retail managers to update their stations to reflect the change effective September 3, 2024.