Business Price of Petrol Remains N145 - NNPC


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ProfRem

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Nigerian National Petroleum Corporation (NNPC) on Tuesday said N145 price of Premium Motor Spirit (PMS), popularly known as petrol, has not been increased.

The Group General Manager, Group Public Affairs Division, Garba Deen Muhammad, made the statement in Abuja on Tuesday at a news briefing.

At an Oil Trading and Logistics Expo in Lagos, the Group General Manager, Crude Oil Marketing, NNPC, Mr Mele Kyari, had said that the current price was not sustainable.

Kyari said NNPC was still subsidising the product leaving a heavy burden on the corporation, which is the sole importer of the product.

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However, Muhammad said the report was simply not true and was taken out of context.

He said: “Regardless of what was said, the bottom line is that there is absolutely no plan whatsoever that government will increase pump price of petrol.

“If there is going to be anything like that, the agency for fixing pump price of petrol will definitely sensitise Nigerians and give reasons why.

“For this moment, there is absolutely no plan and no need to do that because we have more than enough supply, very robust stock and long term procurement contract with our suppliers'.
 
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LequteMan

Guest
How long can this be sustained? Putting a peg on the price isn't always a smart solution. Everything has to work together.

The current government is blaming the former governments for the current economic meltdown. They did not put things (infrastructure, good policies) in place, they say.

Yet, they keep towing the same path - folding arms and pointing fingers. SMH.
 
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P

ProfRem

Guest
How long can this be sustained? Putting a peg on the price isn't always a smart solution. Everything has to work together.

The current government is blaming the former governments for the current economic meltdown. They did not put things (infrastructure, good policies) in place, they say.

Yet, they keep towing the same path - folding arms and pointing fingers. SMH.

They have taken responsibility for the Economic brouhaha yesterday. Well, if the price of Fuel is capped at N145, I wonder what the real price would be.
 
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LequteMan

Guest
They have taken responsibility for the Economic brouhaha yesterday. Well, if the price of Fuel is capped at N145, I wonder what the real price would be.

You believe that crap? Haven't they done it in the past and thereafter start blaming GEJ et al again?

And that's even not important. This goes past who's to blame for the bad economy. What's important now is to accept that the deed is done already and start building infrastructure, creating solutions for businesses to thrive, etc.

For the past year, it's like govt has been sitting on its hands while things go worse.

Square pegs in round holes.
 
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