Fuel hike: NNPC attributes increase in PMS price to market realities

The company’s Group Chief Executive Officer, Malam Mele Kyari, stated this in an interview with newsmen shortly after a private meeting with the Vice President, Kashim Shettima, at the Presidential Villa, on Tuesday, in Abuja.

“And this is the meaning of making sure that the market regulates itself so that prices will go up and sometimes they will come down also and this is really what we are seeing in reality this is how the market works. “I know that a number of companies have imported petroleum; so many of them are online. Market forces have started to play, people have confidence in the market and private sector people are now importing products.

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BREAKING: Nigerian Petroleum Company, NNPCL Increases Fuel Price To N617 Per Litre | Sahara ReportersThe price of Premium Motor Spirit popularly known as fuel has risen to about N617 per litre as the controversy and the hard effects of subsidy removal by the Nigerian government continue to hit Nigerians. A visit to a Nigerian National Petroleum Company Limited (NNPCL) mega filling station in the Central area of Abuja on Tuesday confirmed that the fuel price had been adjusted from N539 to N617 per litre.
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