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The Nigerian Nationwide Petroleum Firm Restricted (NNPCL) has denied plans to extend the pump value of Premium Motor Spirit (PMS), also called petrol or gasoline.
The corporate’s administration clarified this in a press release on Twitter on Friday, following widespread hypothesis of a value hike.
“We don’t intend to extend our PMS pump costs as extensively speculated,” the assertion stated. “Please purchase the very best quality merchandise on the most reasonably priced costs at our NNPC Retail Stations nationwide.”
The NNPCL is Nigeria’s sole importer of refined petroleum merchandise. It has elevated petrol costs twice since eradicating the gasoline subsidy in Might 2023.
Learn additionally NNPCL fails to remit $1.9billion to Federation Account in 2021
The present pump value of petrol in Nigeria is N617 per liter. That is considerably increased than the pre-subsidy value of N184 per liter.
The removing of the petrol subsidy has been a controversial problem in Nigeria. The federal government has argued that the subsidy was unaffordable and that its removing would assist to scale back corruption and enhance effectivity within the oil sector.
Nevertheless, critics of the subsidy removing say that it has positioned a heavy burden on unusual Nigerians, who’re already struggling to deal with the excessive price of residing.
It stays to be seen whether or not the NNPCL will keep on with its phrase and chorus from rising petrol costs within the close to future. Nevertheless, the corporate’s assertion will probably present reduction for Nigerians struggling to make ends meet.
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