Nnpc breaks silence on change in pump price of petroleum products

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NNPC Breaks Silence on Change in Pump Price of Petroleum Products

The Nigerian National Petroleum Corporation (NNPC) has finally broken its silence on the recent changes in the pump price of petroleum products in the country.

In a statement released on [Date], the NNPC explained that the changes in the pump price of petrol and other petroleum products were necessitated by the fluctuations in the global crude oil prices and the need to ensure the sustainability of the downstream sector.

According to the statement, the NNPC had been monitoring the global crude oil prices and had taken steps to adjust the pump price of petroleum products in Nigeria to reflect the changes.

The corporation noted that the current pump price of petrol, which is N162 per liter, was a reflection of the current global crude oil prices and the need to ensure the sustainability of the downstream sector.

The NNPC also assured Nigerians that it would continue to work towards ensuring the availability and affordability of petroleum products in the country.

The statement read in part: "The NNPC wishes to assure the public that it is committed to ensuring the availability and affordability of petroleum products in Nigeria. The corporation will continue to monitor the global crude oil prices and take steps to adjust the pump price of petroleum products in Nigeria to reflect the changes."

The NNPC's statement comes amid concerns from Nigerians over the recent changes in the pump price of petroleum products, which has led to increased fuel scarcity and long queues at filling stations.

It is expected that the NNPC's statement will help to address the concerns of Nigerians and provide clarity on the changes in the pump price of petroleum products.