NNPC debunks petrol pump price hike,as NLC plans nationwide shutdown

By Glory U.C

The Nigerian National Petroleum Company (NNPC) Limited has denied plans to increase the pump price of petrol on the back of FX shortage.

“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated,” the state-owned oil company said on its twitter page.

“Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide.”

This is on the backdrop of indications from oil marketers that the price of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market, leading to uproar from the labour union.

EAGLE EYE NEWS24 reports that the Nigeria Labour Congress(NLC)has vowed to proceed with a total shutdown of the economy if there is another increase in Petrol Pump price from the existing 617 naira, which it describes as “illegal”.

The NLC President,Comrade Joe Ajaero,made this known at the African Trade Union alliance meeting in Abuja, where organised labour also cautioned the government on ignoring their demands.

The pump price of the product currently stands between N570 to N620 per litre since the removal of fuel subsidy late May, 2023.

Recall that President Bola Tinubu on May 29 inauguration speech announced the decision to remove fuel subsidy which has left millions of Nigerians terrified about the knock-on effects that it has put on the daily lives of Nigerians.