The Nigerian National Petroleum Company (NNPC) Limited has reportedly directed its retail outlets to raise the pump price of petrol to N855 per litre from N617.
The increase, which is over 45 percent, took effect from Tuesday.
According to sources, there was a directive to the retail outlets to increase petrol prices.
This comes two days after the NNPC, whose group managing director and chief executive officer is Mele Kyari, admitted owing fuel suppliers a “substantial” amount leading to fuel scarcity.
Spokesperson of the NNPC Olufemi Soneye declined comments when he was contacted by Vanguard.
“I’m not aware of this. Thank you for reaching out. I have no comment on the matter at this time.
“If there are any updates, I will make sure to inform you. I appreciate your understanding,” he said on WhatsApp.
