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NNPC Says They Don’t Have Plans To Increase Fuel Prices “Yet”


The Nigerian National Petroleum Corporation (NNPC) says it has no plan to review pump prices of petroleum products, especially Premium Motor Spirit (PMS), popularly known as petrol.

The Corporation disclosed this in a statement signed by its spokesman, Mr Ndu Ughamadu, in Abuja, on Tuesday.

“The Federal Government has no plan to review prices of white products either downwards or upwards,’’ he said.

He said that though NNPC, since October 2017, had been the sole importer of PMS into the country, the government had no plan to review the market prices of products either upwards or downwards now.

NNPC denies the alleged existence of $3.5bn fuel subsidy fund

He cautioned those spreading falsehood to be wary of the impacts their ignoble act could cause on prices of petroleum products especially petrol as the festive period draws near.

According to him, if not checked, the insinuation of unsubstantiated price review can lead to artificial scarcity and hoarding of products by consumers.

This, he added may result in unwarranted queues and suffering of Nigerians at fuel stations.

Ughamadu urged members of the public to report any station that sells PMS above the N145 recommended price to the offices of the Department of Petroleum Resources (DPR) nationwide.

“The Department is authorized to monitor and regulate the Industry’s activities,’’ he added.

He reiterated the recent statement of the NNPC Group Managing Director, Dr Maikanti Baru, that the corporation had 37 days stock of PMS in the country.

He added that the corporation had mapped out strategies to ensure that Nigerians have a hitch-free festive period.

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