…By Dorcas Funmi for TDPel Media. A video circulating online captures the moment when Nigerians refused to enter a filling station owned by the Nigerian National Petroleum Company (NNPC) Limited after the fuel pump price was adjusted to ₦511 per litre.
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Motorists Disappointed by Unexpected Price Hike: The video shows that a large number of motorists had gathered at the filling station with the expectation of purchasing petrol at a reduced price.
However, they were taken aback when the station adjusted its price to N511 per litre.
Despite the station opening its gates, the motorists chose not to enter.
New Pump Price Announcement: The Nigerian National Petroleum Company (NNPC) Limited has set the price of Premium Motor Spirit (PMS), commonly known as fuel or petrol, at N488 and N555 per litre at its peak.
This decision follows President Bola Tinubu’s recent announcement regarding the end of fuel subsidy removal in Nigeria.
Resolution by NNPC Stakeholders: NNPC stakeholders held a meeting in which they approved an upward review of the NNPC PMS pump price table for Mega/Standard/Leased Stations.
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The resolution instructed all marketers to adjust retail prices for petroleum products nationwide.
Immediate Implementation: Previous speculations regarding the timing of the fuel price determination have been dispelled.
The management has promptly released a new table of retail prices for different geopolitical zones, instructing marketers to implement the changes starting from May 31, 2023, without delay.
About the Author:
A seasoned and experienced writer who has been writing for many years, with over 25 years experience and special interest in journalistic writeups. Dorcas Funmi has thought many classes and trained many writers. Now retired, she focuses on writing news articles.
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