• Saturday, May 18, 2024
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NNPC dispels rumour over impending PMS price hike


The Nigerian National Petroleum Corporation (NNPC) has advised motorists and other petroleum products consumers to disregard a trending rumour about plans to hike the pump price of Premium Motor Spirit (PMS), otherwise called petrol.

In a clarification statement on Thursday, the corporation said  the statement of its Group Managing Director, Mele Kyari, at the National Assembly Wednesday did not suggest any plan to increase the price of the white product.

NNPC Group General Manager, Group Public Affairs Division,  Ndu Ughamadu, in the statement  explained that what the NNPC GMD said during his engagement with the Senate President,  Ahmed Lawan, at the National Assembly on Wednesday  was that the price of petrol was abysmally low in Nigeria compared to what obtained in neighbouring West African countries.

Ughamadu noted that Kyari had observed at the event that the huge disparity in the pump price of petrol between Nigeria and her neighbouring countries tended to encourage cross-border leakages, as he sought the support of the leadership of the National Assembly to curb the malaise of smuggling.

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He advised Nigerians from all walks of life to disregard the insinuation of a planned hike in the price of petrol by NNPC, saying that statutorily, NNPC was not even in a position to regulate the price of petroleum products, advising that NNPC role as an operator must be differentiated from that of any of the industry regulators.

The NNPC spokesperson stated that as directed by relevant agencies of the Government, the pump Price of petrol remained N145 per litre.

NNPC cautioned petroleum products marketers not to sell petrol above N145 per litre following the disclaimed rumour.

NNPC advised Nigerians to remain vigilant and volunteer information to the Department of Petroleum Resources (DPR), the industry regulator, or to any law enforcement agency around them, on any station which sells petrol beyond N145 per litre.