Nigeria Has No Plan to Increase Petrol Price - NNPC

30 October 2018

The Nigerian National Petroleum Corporation (NNPC) says it has no plans to increase pump prices of petroleum products, especially petrol.

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

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

He cautioned Nigerians against spreading false news, and urged those doing so to be wary of the impacts their behaviour could have on the prices of petroleum products especially petrol as the festive period draws near.

According to him, if not checked, the rumours 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.

Mr 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 authorised to monitor and regulate the Industry's activities," he added.

He reiterated the recent statement of the NNPC Group Managing Director, 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.

(NAN)

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