NNPC Speaks On Plans To Increase Petrol Price Above N145/Litre

NNPC Denies Planned Pump Price Increase

The Nigerian National Petroleum Corporation (NNPC) has declared that it has no plan to increase the current petrol pump price of N145 per litre.

It added that the ex-depot price of Premium Motor Spirit (PMS) also known as petrol remains N133.28 per litre.

Ndu Ughamadu, the NNPC Group Spokesman, gave the assurance while speaking with NAN in Abuja on Tuesday, urging Nigerians to ignore rumours that pump price will soon increase.

“The ex-depot price of PMS remains N133.28 per litre as at today and this is according to the Petroleum Products Pricing Regulatory Agency (PPPRA) template.

“NNPC remains the sole importer of the product and we have not increased the price we sell to marketers.

“There is no plan to increase pump price, Nigerians should know that,” he said.

He added that the corporation over the weekend had strengthened the partnership with Major Oil Marketer Association of Nigeria (MOMAN) to ensure an adequate supply of products in the country.

“We also told them not to increase price but if they engage in that, it is illegal and we have instructed the Department of Petroleum Resources (DPR) to sanction them.”

However as previously reported by Naija News, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) had recently declared that they may be forced to start selling PMS above the N145/litre approved price.

The IPMAN Chairman of Ore Depot, Shina Amoo, who gave this hint, added that the price of the product has increased at the private depot.

According to him, the private depot owners now sell the product between N136.50 and N137 per litre instead of the former N133.28 per litre approved by the NNPC.

“IPMAN may soon start selling beyond N145 per litre if depot owners continued to sell between N136.50 and N137 per litre,” he said.