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NNPC Says No Plan To Increase Fuel Price

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The Nigerian National Petroleum Corporation (NNPC) has debunked reports that it is planning to increase the price of premium motor spirit (PMS) better known as petrol.

The Nigerian National Petroleum Corporation (NNPC) has debunked reports that it is planning to increase the price of premium motor spirit (PMS) better known as petrol.

Fuel Pump in Nigeria
Fuel Subsidy

In a statement, Ndu Ughamadu, group general manager, group public affairs division of NNPC, said mischief makers are behind the reports.

During a visit to Senate President Ahmad Lawan on Wednesday, Mele Kyari, group managing director of the NNPC, had said it is very difficult to make fuel available at N145.

After this, reports of plans to increase pump price started circulating on social media.

Ughamadu said it was improper for people to conclude that the corporation had made plans to hike the price of the product.

He said NNPC is “not even in a position to regulate the price of petroleum products.”

Ughamadu said what Kyari meant was that “the price of petrol was abysmally low in Nigeria compared to what obtained in neighbouring West African countries.”

“Mallam Kyari had observed at the event that the huge disparity in the pump price of petrol between Nigeria on the one hand and her neighbouring country on the other hand tended to encourage cross-border leakages, as he sought the support of the leadership of the National Assembly to curb the malaise of smuggling,” the statement read.

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

Ughamadu urged Nigerians to report cases of increased fuel price to the Department of Petroleum Resources (DPR) in order to take disciplinary measures against defaulters.

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