NNPC debunks fuel subsidy rumour
The Nigerian National Petroleum Corporation (NNPC), has dismissed the rumour going round that its setup is set to bring new increment regime to the pump price of petrol
Garba Deen Muhammad, Group General Manager, Group Public Affairs Division, NNPC in a statement yesterday told Nigerians to stop spreading rumors
“NNPC is not empowered statutorily to tinker with the pricing template of petroleum products as erroneously reported in some national dailies”, he noted
The NNPC spokesman said that the adjustment of the pump price of petrol by NNPC filling stations from N141 to N145 per litre was still within the approved price band
“The price adjustment is still within the price band of N135 and N145 per litre approved on May 11 by the Petroleum Products Pricing Regulatory Agency (PPPRA), the statutory body in charge of petroleum products pricing.
“The Corporation assures marketers and motorists of its readiness to continue to play its statutory role of being the supplier of last resort and ensuring energy security for the nation.
“The NNPC further confirms the availability of over 1.6 billion litres of PMS in-country that would last 45 days consumption”.
“There was no time the NNPC management met the President to push for a hike in the pump price of petrol to N150 per litre,” Muhammad said.