Nigeria: NNPC Rules Out Hike in Fuel Price

(file photo).
31 October 2018

Abuja — The Nigerian National Petroleum Corporation (NNPC) yesterday dismissed plans to increase pump prices of petroleum products, especially Premium Motor Spirit (PMS), popularly known as petrol.

The corporation's Group General Manager, Group Public Affairs, Ndu Ughamadu, said contrary to the trending information on the social media, the Federal Government also had no plan to review prices of white products.

He noted though the agency has since last October been sole importer of petrol due to the inability of the oil marketing companies (OMCs) to cope with the Open Market Price that exceeds the official N145 per litre, the spokesman, however, dismissed any increment moves by government.

A statement by him warned purveyors of false information against acts that could stir sharp practices as the festive period approaches. Ughamadu urged the public to report any filling stations selling above the official pump price to the Department of Petroleum Resources (DPR).

Besides, it has announced the re-entry of its subsidiary, NIDAS Shipping Services, into the international shipment of crude oil and petroleum products, seven years after falling out of reckoning.The development follows the ongoing re-engineering by the Group Managing Director, Dr. Maikanti Baru, to add value to the organisation.

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