No plan by FG to increase pump price of petrol -NNPC

Ebun Francis

The Nigerian National Petroleum Corporation (NNPC), Wednesday dispelled rumours the the Federal government will  increase the pump price of petroleum products.

Ndu Ughamadu, spokesman of the corporation, in a statement said the corporation had a 1.3billion litres stock of premium motor spirit (PMS), otherwise called petrol, which is sufficient to serve the nation for more than 38 days. He therefore urged Nigerians not to engage in panic buying.

According to the statement, “This plea comes on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government is about to increase the pump price of the white product from N145 per litre.”

“NNPC wishes to assure Nigerians that there is no iota of truth in the rumour that government is scheduled to adjust pump price of petrol.

“Indeed, with the resumption of production by the Corporation’s three refineries in Kaduna, Port Harcourt and Warri, complemented by imports, there is enough stock of PMS, automotive gas oil (AGO), diesel and kerosene.”

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“Mr. Anibor Kragha briefed the senate committee on petroleum downstream in a presentation on the current status of the refineries at the National Assembly Complex in Abuja,” he said.

“In the presentation, Kragha told the legislators that the nation’s three refineries produced additional volumes of 4.6 million litres of kerosene and 7.7 million litres of diesel, in addition to millions of litres of petrol being refined daily at the nation’s refineries.

“The assurances of availability of stock by the NNPC Chief Operation Officer of the Refineries yesterday still stand.”