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    MarketForces Africa » MarketForces News » NNPCL Says No Plan to Increase Petrol Price

    NNPCL Says No Plan to Increase Petrol Price

    Julius AlagbeBy Julius AlagbeFebruary 8, 2024Updated:February 8, 2024 News No Comments1 Min Read
    NNPCL Says No Plan to Increase Petrol Price
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    NNPCL Says No Plan to Increase Petrol Price

    Contrary to speculation, the Nigerian National Petroleum Company (NNPC) Limited has denied a plan to increase the price of petroleum motor spirit or petrol despite adjustment to the exchange rate.

    In an official statement by Olufemi O. Soneye its Chief Corporate Communications Officer, the oil company assures the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), urging Nigerians to disregard unfounded rumours.

    Also, NNPCL said there are no plans for an upward review of the petrol price, advising Motorists against engaging in panic buying, as there is presently ample availability of PMS across the country. #NNPCL Says No Plan to Increase Petrol Price# Equities Investors Lose N481bn to Market Correction

    NNPCL
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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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