Disregard Rumour Of Impending Hike In Petrol Price – NNPC

Disregard Rumour Of Impending Hike In Petrol Price – NNPC

The Nigerian National Petroleum Corporation has advised motorists and other petroleum product consumers to disregard the trending rumour of a planned hike in the pump price of Premium Motor Spirit, popularly known as petrol.

It explained that the statement of the corporation’s Group Managing Director, Mele Kyari, at the National Assembly on Wednesday did not suggest any plan to increase the price of the white product. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, clarified that what the NNPC GMD stated during his engagement with the Senate President, Senator Ahmed Lawan, was that the price of petrol was abysmally low in Nigeria compared to what obtained in neighbouring West African countries.

Ughamadu noted that 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 countries, on the other hand, tended to encourage cross-border smuggling  This, according to Ughamadu, was why the NNPC boss sought the support of the leadership of the National Assembly to curb the malaise of smuggling.

The oil firm advised Nigerians to disregard the insinuation of a planned hike in the price of petrol by NNPC.  It stated that statutorily NNPC was not even in a position to regulate the price of petroleum products, adding that the corporation’s role as an operator must be differentiated from that of any of the industry regulators.

Ughamadu stated that as directed by relevant agencies of government, the pump price of petrol remains N145 per litre. NNPC cautioned petroleum products’ marketers not to sell petrol above N145 per litre following the disclaimed rumour. It advised Nigerians to remain vigilant and volunteer information to the Department of Petroleum Resources, the industry regulator, or to any law enforcement agency around them, on any station which sells petrol beyond N145 per litre.

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