In a joint effort to quell speculation, the Nigerian National Petroleum Company (NNPC) Limited and fuel marketers have unequivocally denied any increase in petrol prices to N1,200 per litre. Contrary to earlier reports suggesting a clash between the NNPC and the Independent Petroleum Marketers Association of Nigeria (IPMAN) over fuel subsidy, both entities have clarified the situation.
In an official statement, NNPC spokesperson, Olufemi Soneye, asserted, “NNPC Ltd emphasizes that it has not clashed with any party. The publication sought confirmation on the alleged subsidy reduction, to which NNPC responded that subsidy has been entirely removed.”
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Chinedu Okonkwo, Treasurer of IPMAN Board of Trustees, echoed this sentiment during a telephone interview with Vanguard, stating, “It is not true that the price of petrol has been increased. Those saying so are merely speculating.”
President Bola Tinubu had previously declared the end of the subsidy era in his inaugural speech on May 29, 2023. However, despite this announcement, Vanguard’s investigations revealed that numerous fuel stations in Lagos and surrounding areas continued to sell petrol within the range of N600 to N630 per litre.
Source: Vanguard
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