The Nigerian National Petroleum Company (NNPCL) has addressed concerns about a potential increase in petrol prices. In a recent post on its official X (formerly Twitter) account, NNPCL assured its valued customers that it has no plans to raise the pump price of petrol.
“We value your patronage at NNPCL Retail, and we want to clarify that we are not planning to raise our petrol prices as rumored. Find high-quality products at affordable rates at our NNPCL Retail stations nationwide,” the company conveyed.
NNPCL Retail is the downstream arm of NNPCL responsible for selling refined petroleum products. Amidst speculations, oil marketers warned of possible petrol price hikes due to fluctuations in the dollar exchange rate.
The Nigeria Labour Congress (NLC) also chimed in, cautioning that if petrol marketers increased prices without concluding ongoing negotiations, nationwide strikes might commence without prior notice.
NLC President, Joe Ajaero, urged the government to address the falling value of the naira. This situation follows previous attempts by organized labor to protest rising prices after the removal of fuel subsidies in May. Legal actions prevented strikes back then.
NNPCL’s firm stance against price hikes and ongoing negotiations with NLC highlight the current concerns and discussions surrounding petrol prices in Nigeria.