We have no plans to increase pump price of petroleum – NNPC

The Nigerian National Petroleum Corporation (NNPC) has denied reports that it is planning to increase the pump price of premium motor spirit (PMS), petrol, noting that mischief makers were behind the report.

The Corporation which stated this in a statement by Ndu Ughamadu, its Group General Manager, Public Affairs Division, it was not right for people to conclude that the corporation had made plans to hike the price of the product

The speculation over hike in petroleum price followed Mele Kyari, GMD NNPC’s assertion on Wednesday that it is very difficult to make fuel available at N145.

Kyari spoke during a courtesy visit of Senate President Ahmad Lawan on Wednesday.

“NNPC is not even in a position to regulate the price of petroleum products,” Ughamadu said.

He noted that what Kyari meant was that “the price of petrol was abysmally low in Nigeria compared to what obtained in neighbouring West African countries.”

“Mallam Kyari had observed at the event that the huge disparity in the pump price of petrol between Nigeria on the one hand and her neighbouring country on the other hand tended to encourage cross-border leakages, as he sought the support of the leadership of the National Assembly to curb the malaise of smuggling.”

The Corporation warned petroleum products marketers not to sell petrol above N145 per litre.