The Centre for the Promotion of Private Enterprise (CPPE), has called on the Nigerian National Petroleum Company Limited (NNPCL) to reverse its recent Premium Motor Spirit, PMS, pricing adjustment.
This is coming shortly after the NNPCL announced a new increase in the price of Dangote Refinery Petrol at its retail outlets, ranging from N950 to N1,019.22 per liter.
Following reports of this development, Yusuf urged the NNPCL to reverse the price increase, citing reasons that further increases in petroleum products would worsen the inflationary trends in the cost of goods and services in Nigeria.
He stated that the action of NNPCL, in announcing the price hike, showed it was insensitive to the present socioeconomic situation of Nigeria.
Yusuf further advocated a more collaborative attitude between the Dangote Refinery and the NNPCL, citing that this will be in the interests of all Nigerians and the economy at large.
“It is even more worrying that NNPCL has announced yet another price increase. The judgment lacks sensitivity to the current socio-economic situation of Nigeria.
“I pray this decision is reversed, and I look forward to a better relationship between NNPCL and Dangote Refinery in the interest of all Nigerians and the economy,” he said.
He said this with inflation in Nigeria defying high commodity prices for the second time, slowing down to 32.15 percent in August 2024.
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