No plans to increase fuel price - NNPC

By FN Editor on 11/07/2019

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The Nigerian National Petroleum Corporation (NNPC) says it has no plans to increase the price of Premium Motor Spirit (PMS), popularly known as petrol in the country.

 

The Corporation made this known in a statement issued by its spokesman, Mr Ndu Ughamadu, in Abuja on Thursday.

He advised motorists and other petroleum products consumers to disregard trending rumour of a planned hike in the pump price of PMS.

He added that the statement of the corporation’s Group Managing Director, Malam Mele Kyari, at the National Assembly on Wednesday did not suggest any plan to increase the price of the product.

He clarified that what Kyari said during his engagement with Senate President Ahmed Lawan at the National Assembly was that the price of petrol was abysmally low in Nigeria compared to what was obtained in neighbouring West African countries.

Ughamadu noted that Kyari had observed at the event that the huge disparity in the pump price of petrol between Nigeria on one hand and her neighbouring country on the other hand tended to encourage cross-border leakages.

He advised Nigerians from all walks of life to disregard the insinuation of a hike in the price of petrol by NNPC, adding that the corporation was not even in a position to regulate the price of petroleum products.

He noted that NNPC’s role as an operator must be differentiated from that of any of the Industry regulators.

The spokesperson further emphasised that as directed by relevant agencies of the Government, the pump Price of petrol remained N145 per litre.

He cautioned petroleum products marketers not to sell petrol above N145 per litre.

He advised Nigerians to remain vigilant and volunteer information to the Department of Petroleum Resources (DPR), the Industry regulator, or to any law enforcement agency around them, on any station which sells petrol beyond N145 per litre.

 

Posted on July, 11 2019

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