News

FACT CHECK: New PMS price review not authorised by NNPC

1 Mins read

Following weeks of fuel scarcity in some parts of the country, reports emerged Tuesday that the Nigerian National Petroleum Company (NNPC) Limited had “quietly” approved an upward review of the pump price of Premium Motor Spirit (PMS).

According to reports, the directive which was allegedly issued by the NNPC to fuel marketers varied according to geo-political zones and was to come into effect from Tuesday.

The ex-depot price was also allegedly increased from N148.17 to N167 per litre.

How true are these claims?

The responsibility of regulating petrol price in the country falls directly falls under the purview of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA).

Spokesperson for NNPC Limited Garba Deen Muhammad, said Wednesday that “the NNPC no longer approves pump price review. NNPC has already exited all that situation. We are operating just like MTN now”.

Similarly, the managers of two petrol filling stations confirmed to TheNewsGuru.com (TNG) on Tuesday that the purported claimed that the directive came from the NNPC was false and that the oil marketers unilaterally adjusted the price to cover their business costs.

Most filling stations visited were selling petrol for between N185 and N200 per litre, with the exception of NNPC Limited which sold at N169 per litre.

Verdict

False: Reports that NNPC Limited quietly reviewed fuel price upward is therefore false and should be disregarded by the public.

Related posts
NewsTrending

Special Report: How Nationwide ‘okada’, mining ban would reverse Buhari’s 9 million jobs

3 Mins read
Tackling unemployment was one of the strategic campaign promises on which Nigeria’s President Muhammadu Buhari rode to victory in 2015 when the…
LifestyleNews

President Buhari to exceed number of foreign trips made in 2021

1 Mins read
Nigeria’s President Muhammadu Buhari currently in Lisbon, Portugal for a state visit, has clocked his 12th international trip in 2022, in half…
Crime WatchNews

Owo Massacre: Nigeria, now the most targeted country by ISIS

2 Mins read
Between June 1- 6 2022, ISIS has claimed responsibility for at least 10 attacks in Borno, Kogi, Yobe states, leading to increased…

Leave a Reply

Your email address will not be published.