Nigeria’s petroleum agency, NNPC, on Thursday rebutted fast-spreading reports that pump price of Premium Motor Spirit, popularly known as petrol is about to increase.
According to the corporation, the statement made by its fresher Group Managing Director, Mele Kyari, which was being quoted in the various reports was wildly misconstrued.
Kyari on Wednesday, during an encounter with the President of the Nigerian Senate, Dr. Ahmad Lawan, had said the price of petrol was abysmally low in Nigeria compared to what obtained in neighbouring West African countries.
According to Mr. Ndu Ughamadu, Kyari had only observed at the event that the huge disparity in the pump price of petrol between Nigeria on the one hand and her neighbouring countries, on the other hand, tended to encourage cross-border smuggling.
The NNPC’s Group General Manager, Group Public Affairs Division on Thursday said Kyari’s statement was made to seek the support of the National Assembly in order to curb the menace of smuggling.
The oil firm therefore advised Nigerians to disregard the insinuation of a planned hike in the price of petrol by NNPC.
It stated that statutorily NNPC was not even in a position to regulate the price of petroleum products, adding that the corporation’s role as an operator must be differentiated from that of any of the industry regulators.
Ughamadu stated that as directed by relevant agencies of government, the pump price of petrol remains N145 per litre.
NNPC cautioned petroleum products’ marketers not to sell petrol above N145 per litre following the disclaimed rumour