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Nigerian National Petrol Company (NNPC) Limited has confirmed the hike in the pump price of Premium Motor Spirit also known as petrol.
The price adjustment by the NNPC is coming some 48 hours after President Bola Tinubu announced an end to the subsidy era during his inaugural speech at the Eagle Square on May 29, 2023.
Fuel queues have since resurfaced across the country since the presidential pronouncement as Nigerians forage for the premium product which is now sold from N400/litre to as high as N600/litre.
NNPC spokesman, Garba Deen Muhammad, in a statement on Wednesday said the price of the essential commodity has been adjusted its retail outlets nationwide but he did not mention a specific amount.
He said the price per litre of petrol will continue to fluctuate to reflect market dynamics.
