The Nigerian National Petroleum Corporation Limited (NNPCL) has increased price of petrol.
According to reports and observations, NNPCL increased petrol to N855 per litre.
The development was made public in a viral video posted on Twitter.
It is also coming at a time the NNPCL management admitted that it was facing a debt challenge to the tune of $6 billion from its supply chain abroad.
While the prices have varied since the removal of the subsidy by the Nigerian government, NNPCL had retained its fuel price at N617 per litre.
A statement by its Chief Corporate Communications Officer, Olufemi Soneye, subtly confirmed that the debt was the cause of fuel queues springing up at filling stations across the country, lamenting that it is impacting supply sustainability.
There were speculations that the national oil company began struggling to meet fuel supply demands early this year when late PMS payments surpassed $3 billion.
Even at that, the Federal Government had consistently debunked claims that it was still subsidizing petroleum products.
Nollywood actress, Kate Henshaw confirmed the new pump price in a viral video.
