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Fuel Price No plan to increase cost of petrol – NNPC

The assurance was given by NNPC spokesman, Ndu Ughumadu via a statement released on Thursday, January 19.

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NNPC says N774m is spent daily on fuel subsidy play

Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru

(Financial Watch)

The Nigerian National Petroleum Corporation (NNPC) has said that the Federal Government will not increase the price of fuel in the country.

The assurance was given by NNPC spokesman, Ndu Ughumadu via a statement released on Thursday, January 19.

The statement reads in part:

“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.”

“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.

“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.”

ALSO READ: Fuel might cost N151 per litre soon

Meanwhile, marketers in the country have warned of an impending fuel scarcity due to the sums of money owed them by the government.

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