Kachikwu refutes reports alleging plans to increase petroleum pump price

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The Honorable Minister o State, Petroleum Resources Dr. Emmanuel L. Kachikwu has distance self from the report that the Federal government planned to increase fuel price.

Managing Director of the NNPC, Mr. Emmanuel Kachikwu
Managing Director of the NNPC, Mr. Emmanuel Kachikwu

In a statement signed on Thursday by the Director of Press, Ministry of Petroleum Resources Idang Alibi, Kachikwu noted that the federal government has constituted a committee to investigate the cause of the fuel scarcity, adding the President will be informed of the findings in order to find a lasting solution to the lingering petroleum problem.

Kachikwu said: “The attention of the office of the Honorable Minister of State, Petroleum Resources has been drawn to some certain publications making the rounds on both traditional and social media alleging that the Honorable Minister of State, Petroleum Resources, Dr. Emmanuel I. Kachikwu dropped a hint of an impending fuel price increase during the Joint Senate and House of Representatives Committee hearing on fuel scarcity in Nigeria.

“The Ministry of Petroleum Resources would like to categorically state that the Honorable Minister of State, Petroleum Resources all through his presentations at the hearing neither mentioned nor insinuated the need or plans by the Federal Government to increase the current pump price of Premium Motor Spirit (PMS).

“It would be expedient to note that that the Presidency has set up a special committee to identify the immediate and remote causes of the fuel scarcity with a view to finding both immediate and long-lasting solutions to the challenge.

“The Committee has been in rounds of deliberations in the past few days and these discussions are still ongoing. The final decisions and recommendations from the Committee would be passed on to the President and Commander-In-Chief for approval.”

The Minister urged the general public and indeed stakeholders in the Oil and Gas sector to disregard any such report of a price increase.



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