With the renaming of the Nigerian National Petroleum Corporation to Nigerian National Petroleum Corporation Limited, the company has ushered in a new era.
Fuel Pump Price Increases As NNPC Unveils New Era (FULL VIDEO)
On Tuesday, July 19, 2022, the Nigerian National Petroleum Company (NNPC) Limited approved raising the price of Premium Motor Spirit (PMS) at the pump from N165 to N179 per litre.
The ex-depot price was also hiked by NNPC from N148.17 to N167 per litre. This comes after nationwide gasoline shortages returned, and fuel marketers ultimately succeeded in forcing a new price.
While some gas stations have changed their pricing to reflect the actual amount they are selling at, others have allowed their meters to display the approved retail price of N165 per litre even though they were selling for more than that.
Fuel Pump Price Increases As NNPC Unveils New Era (FULL VIDEO)
Also, the Nigerian National Petroleum Corporation (NNPC) announced it has no money to share with federal states and local governments.
Providing a breakdown of its finance, NNPC revealed it made N1.89 trillion in five months, but most of the money has been spent.
World Bank has expressed concern that Nigeria could be heading for a massive fiscal crisis due to continue subsidy payments.
See the video below for more!
