The Nigerian National Petroleum Corporation (NNPC) has denied reports that it plans to increase the price of fuel.
The NNPC made the rebuttal in a statement issued by Ndu Ughamadu, its Group General Manager, Group Public Affairs division of NNPC, on Thursday.
Speculations had been rife that the pump price fuel will be increased after Mele Kyari, NNPC Group Managing Director of the NNPC, had during a visit to Senator Ahmed Lawan, the Senate President, said it is very difficult to make fuel available at N145.
But responding, the corporation said the reports were inaccurate, noting that the statement of its GMD was misinterpreted.
According to the statement, the NNPC is “not even in a position to regulate the price of petroleum products.”
The NNPC said what Kyari meant was that “the price of petrol was abysmally low in Nigeria compared to what obtained in neighbouring West African countries.”
The statement partly read: “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 statement read.
The NNPC warned petroleum products marketers not to sell petrol above N145 per litre.
It also urged Nigerians to report cases of increased fuel price to the Department of Petroleum Resources (DPR) in order to take disciplinary measures against defaulters.