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1 Nov 2018

Christmas: NNPC Breaks Silence On Reviewing Fuel Price

The Nigerian National Petroleum Corporation (NNPC), says it has no plan to review pump prices of petroleum products.

NAN reports that the corporation disclosed this in a statement signed by Ndu Ughamadu, its spokesman, in Abuja, on Tuesday.

NNPC has been the sole importer of petrol into the country since October 2017
“The Federal Government has no plan to review prices of white products either downwards or upwards,” he said.

He cautioned those spreading reports of a price review, saying their “ignoble act” could have an adverse effect on prices of the products, especially petrol, as the festive period draws near.

According to him, if not checked, the insinuation of unsubstantiated price review can lead to artificial scarcity and hoarding of products by consumers.

Ughamadu urged members of the public to report any station that sells PMS above the N145 recommended pump price to the offices of the Department of Petroleum Resources (DPR) nationwide.

“The Department is authorised to monitor and regulate the Industry’s activities,’’ he said.
The spokesman said the corporation has mapped out strategies to ensure that Nigerians have a hitch-free festive period.

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