No plan to increase fuel price, says NNPC

No plan to increase fuel price, says NNPC

The Nigerian National Petroleum Corporation (NNPC) on Thursday said it had no plan to increase the price of premium motor spirit (PMS) better known as petrol in the country, stating that was improper for people to conclude that the corporation had made plans to hike the price of the product.

Dismissing the reports of possible price increase in petrol, Ndu Ughamadu, NNPC spokesman in a statement said mischief makers are behind the reports.

According to the statement, NNPC is “not even in a position to regulate the price of petroleum products.”

It will be recalled that on Wednesday, Mele Kyari, group managing director of the NNPC, during a visit to the Senate president, had said it is very difficult to make fuel available at N145.

But 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.”

Ughamadu said, “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 NNPC spokesman, therefore, cautioned petroleum products marketers not to sell petrol above N145 per litre and urged Nigerians to report cases of increased fuel price to the Department of Petroleum Resources (DPR).