NNPCL Holds Firm: Refuses PMS Price Adjustment

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NNPC Denies PMS price adjustment

Amidst growing global economic uncertainties and mounting pressure on Nigeria’s fuel sector, the Nigerian National Petroleum Corporation Limited (NNPCL) has taken a decisive stand: rejecting a price adjustment for Premium Motor Spirit (PMS), commonly known as petrol. This firm decision has sparked intense debate and speculation nationwide, highlighting the complex challenges within Nigeria’s energy domain.

The NNPCL’s unwavering refusal to alter fuel prices comes at a critical juncture, against a backdrop of soaring global oil prices and ongoing discussions on the sustainability of fuel subsidies.

Claims that the national oil company had reduced the prices at which it sold products to marketers and, consequently, to Nigerians.

However, Olufemi Soneye, the Chief Corporate Communications Officer of the NNPC, firmly refuted these suggestions as false in a released statement. Soneye stressed the importance of Nigerians disregarding these rumors entirely.

In the statement, NNPC Limited clarified the rumors surrounding a potential adjustment in the prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

The company explicitly stated that these reports were unfounded and urged Nigerians to dismiss them completely.

NNPCL’s refusal to adjust PMS prices may offer temporary respite, it underscores the urgent need for comprehensive reforms within Nigeria’s energy sector.

Addressing the root causes of fuel pricing volatility demands collective action and forward-thinking from all stakeholders.

Additionally, NNPC Ltd reaffirmed its dedication to maintaining the current sufficiency in the supply of petroleum products across all its retail stations throughout the country.

Source: TheCable, Thisdaylive

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