NNPC
Nigerian National Petroleum Corporation on Tuesday said N145 price of Premium Motor Spirit (PMS), popularly known as Petrol, has not been increased.
The Group General Manager, Group Public Affairs Division, Garba Deen Muhammad, made the statement in Abuja on Tuesday at a news briefing.
At an Oil Trading and Logistics Expo in Lagos, the Group General Manager, Crude Oil Marketing, NNPC, Mr Mele Kyari, had said that the current price was not sustainable.
Kyari said NNPC was still subsidising the product leaving a heavy burden on the corporation, which is the sole importer of the product.
However, Muhammad said the report was simply not true and was taken out of context.
He said: “Regardless of what was said, the bottom line is that there is absolutely no plan whatsoever that government will increase pump price of petrol.
“If there is going to be anything like that, the agency for fixing pump price of petrol will definitely sensitise Nigerians and give reasons why.
“For this moment, there is absolutely no plan and no need to do that because we have more than enough supply, very robust stock and long term procurement contract with our suppliers’.
