There are strong indications that the Nigerian National Petroleum Company Limited has directed its retail outlets to raise the pump price of petrol to N855 per litre.
Nigerians were greeted with a change in pump prices on Tuesday, rising from around N600 to N855 per litre.
Sources around the company claimed that a directive was issued from above to retail outlets to increase petrol prices, with reason that the NNPC Retail Management had approved an upward review of PMS pump prices.
This development is coming only two days after the company revealed that the challenges being experienced in importing fuel is due to an $8 billion debt.
However, the NNPC spokesperson, Olufemi Soneye, declined to comment when contacted by the pressmen.
PUNCH correspondent gathered from depot operators that N250 had been added to the pump price.
It was also observed that some major marketers had raised their pump prices to N860 per litre.
The PUNCH had earlier reported that the pump price of petrol could approach N1,000 in a few days.
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