L
LequteMan
Guest
Dr. Maikanti Baru, the Goup Managing Director of the Nigeria National Petroleum Corporation, NNPC, has denied claims that the corporation has plans to increase the pump price of petrol above the stipulated N145/litre.
Oil marketers on Tuesday had complained about dollar scarcity for fuel importation, and there are reports that they plan to hike the price of the commodity soon.
Speaking about the issue, Maikanti said “I have not been directed to increase pump price, even the other price was based on recommendation from the regulatory body.
He said he had no idea marketers were planning to hike the price of the commodity. "..you know there are several factors that necessitated that ,especially the issue of exchange rate that has moved and we don’t expect any serious changes," he said.
“So far the request for forex for importation of gasoline, popularly called petrol, has been met and our own supply situation is robust, we are meeting demands," he added.
He however revealed that Petroleum Products Pricing Regulatory Agency (PPPRA) could review the prices of petroleum products when necessary and that NNPC currently has over 1.4 billion litres of PMS in stock for sale at N145 per litre.
Vanguard
Oil marketers on Tuesday had complained about dollar scarcity for fuel importation, and there are reports that they plan to hike the price of the commodity soon.
Speaking about the issue, Maikanti said “I have not been directed to increase pump price, even the other price was based on recommendation from the regulatory body.
He said he had no idea marketers were planning to hike the price of the commodity. "..you know there are several factors that necessitated that ,especially the issue of exchange rate that has moved and we don’t expect any serious changes," he said.
“So far the request for forex for importation of gasoline, popularly called petrol, has been met and our own supply situation is robust, we are meeting demands," he added.
He however revealed that Petroleum Products Pricing Regulatory Agency (PPPRA) could review the prices of petroleum products when necessary and that NNPC currently has over 1.4 billion litres of PMS in stock for sale at N145 per litre.
Vanguard
