The Nigerian National Petroleum Company Limited, NNPCL has spoken regarding the widespread concern of a possible hike in the pump price of Premium Motor Spirit, PMS popularly called petrol.
In a post by the company, on its official X, formerly called twitter handle on Monday the national oil firm and major importer of petrol into Nigeria, said it had no intention to increase the pump price of petrol as widely speculated.
The NNPCL Retail is the downstream subsidiary of NNPCL that retails refined petroleum products for the group.
You will recall that oil marketers had on Sunday indicated that the cost 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.
They also hinted that dealers seeking to import PMS were being forced to put their plans on hold due to the scarcity of foreign exchange to import the commodity.
The warning came barely one week after the local currency crossed the N900/dollar ceiling, with the naira selling at over 945/dollar at the parallel market on Friday.
Also, the Nigeria Labour Congress, NLC had on Monday warned that its members would commence a nationwide strike without any formal notice if marketers increased the pump price of petrol without concluding the ongoing negotiations.
