Business

NNPC, Marketers Deny Fuel Price Increase To N1,200 Per Litre

The NNPC Limited and marketers have refuted claims of a potential rise in petrol price to N1,200 per litre in Nigeria, dismissing it as speculation. Reports indicated a clash between fuel marketers represented by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the NNPC regarding fuel subsidy.

However the NNPC spokesperson Olufemi Soneye confirmed the removal of the fuel subsidy.

He stated: “NNPC Ltd emphasizes that it has not clashed with any party. The publication sought confirmation on the alleged subsidy reduction, to which NNPC responded that subsidy has been entirely removed.”

IPMAN Board of Trustees, Chinedu Okonkwo, said: “It is not true that the price of petrol has been increased. Those saying so, are merely speculating.”

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