NNPC Dismisses Rumoured Increase in Fuel Price

The Nigerian National Petroleum Corporation, NNPC, has dismissed reports of a planned increase in the pump price of Premium Motor Spirit PMS.

It therefore advised motorists and other petroleum products consumers to disregard the rumor.

The corporation in statement said the Group Managing Director, Mele Kyari, did not suggest any plan to increase the price of the product while speaking at the National Assembly on Wednesday.

NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who issued the statement explained that what the NNPC GMD said during his meeting with the Senate President, Ahmed Lawan, was that the price of petrol was abysmally low in Nigeria compared to what obtained in neighbouring West African countries.

Ughamadu noted that Kyari had pointed out that the huge difference 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.

He therefore sought the support of the leadership of the National Assembly to deal with the challenges of smuggling.

Ughamadu, stressed that the NNPC did not have the statutory power to regulate the price of petroleum products, saying the corporations role as an operator must be differentiated from that of any of the Industry regulators.

He reiterated that the pump Price of petrol remained N145 per litre and cautioned petroleum products marketers not to sell petrol above the price.

Ughamadu 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.


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