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No plan to increase fuel price ~ NNPC

The Nigerian National Petroleum Corporation has made it clear that no plan to increase the pump price of premium motor spirit (PMS), popularly called petrol.

NNPC spokesman Garba Deen Muhammad said the corporation had a robust supply arrangement that could guarantee sustainable fuel supply over a long period of time.

Muhammad spoke to newsmen to clarify comments credited to the corporation’s Group General Manager, Crude Oil Marketing Division, Mr. Mele Kyari, who at an oil event in Lagos reportedly said that the current fuel price was not sustainable.


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“The statement was made within the context of technical terms and not downstream operations. But the bottom-line is that there is absolutely no plan by government to increase fuel price above the N145 per litre maximum level.” Muhammad said.

“If there is going to be anything like that the agency responsible for fixing price - the PPPRA - will definitely communicate to Nigerians and give reasons why that will happen but as at this moment there is absolutely no plan to do that and no need to do that because we have more than enough supply.”

He said NNPC also has long-term procurement contracts with its suppliers and the usual reasons that would necessitate any review of price at the moment had been well taken care of.

On marketers’ complaints about inadequate forex supply, Muhammad said their complaints had been addressed adequately.

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