The Nigerian National Petroleum Company (NNPC) Limited has denied plans to increase its pump prices.

The NNPC, in a statement issued Friday, said it values its customers’ patronage and does not intend to increase its Premium Motor Spirit (PMS) pump prices.

“Our retail stations sell the best quality products at the most affordable prices,” the statement read.

The NNPC has increased its pump prices twice since President Bola Tinubu assumed office on May 29, declaring that “fuel subsidy is gone.”

The increase has led to a rise in the cost of other commodities, and organised labour has threatened several unfulfilled strike actions in response.

IMPORTANT NOTICE

Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated. Please buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide.… pic.twitter.com/tcIGojU9M8

— NNPC Limited (@nnpclimited) October 6, 2023