Nigeria has finally removed subsidy on premium motor spirit (PMS) popularly known as Petrol as the Nigeria National Petroleum Company (NNPC) Limited on wednesday morning officially changed its pump price to N537 per litre in Abuja, in Lagos State where fuel is N488 per and in Port Harcourt for N511 per litre.
In Oyo state Pump price is now between 485 and #537/ litre at NNPC stations.
Garba Deen Muhammad, NNPC’s Chief Corporate Communications Officer in a statement that announced the price adjustment which he said is in line with the current market realities.
“As we you strive to provide you the quality service we are known for, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.”
“We assure you that NNPC Ltd. is committed to ensuring ceaseless supply of products.The Company sincerely regrets any inconvenience this development might have caused.”
President Bola Tinubu who resumed at Aso Rock on Tuesday afternoon held a long meeting with the CGEO of NNPC and CBN governor Godwin Emefiele on the matters of fuel subsidy and the multiple foreign exchange rates.
