NNPCL Increases Fuel Pump Price To N855, Nigerians Groan

By Akinwale Kasali

The Nigerian National Petroleum Company Limited, NNPCL, has further escalated Nigerians financial burden following an increase in the prices of fuel.

Despite the lingering fuel scarcity and crisis, the NNPCL has adjusted the fuel price from N650 to N855.

Apparently to avoid any backlash that could trail the new price, the NNPCL have directed its outlets to adjust the pump prices with over 30 percent increments.

The increments were discovered on Tuesday at dispensing machines of government-backed NNPCL stations in Lagos and Abuja.

The price, it was gathered has been reviewed upward to reflect the global price and reduce the debt burden on NNPCL.

This came barely two days after NNPCL Management disclosed that the firm is owing suppliers of the products over Six Billion US Dollars.

This development will, it is said cushion the debt burden of the NNPCL.