NNPC Corporation denies plans to increase fuel price

Speaking to newsmen, the NNPC Group General Manager for Public Affairs, Mr. Ndu Ughamadu described the reports as rumours.

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One of Nigeria's refineries play

One of Nigeria's refineries managed by NNPC

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The Nigerian National Petroleum Corporation (NNPC) has said that the Federal Government is not planning to increase the price of fuel.

This is coming on the heels of a warning against any increment issued by the Nigerian Labour Congress (NLC).

Speaking to newsmen, the NNPC Group General Manager for Public Affairs, Mr. Ndu Ughamadu described the reports as rumours.

Ughamadu also said “The government and the NNPC had denied rumours of petrol price increase on several occasions. There is nothing of such for now. And assuming we are incurring losses, we have not complained. We have various roles to play in the country as supplier of last resort even when others are not supplying.

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“We are not complaining; and we will continue to ensure that our refineries produce at optimum capacity and support production with imports when necessary. There is no directive from the Federal Government to increase petrol price at the moment.”

The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation which was established on April 1, 1977.

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