BREAKING: NNPC DENIES ASKING MARKETERS TO INCREASE PETROL PRICE

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The Nigerian National Petroleum Company (NNPC) Limited has denied directing marketers to engage in an upward review of the price and pump price of premium motor spirit (PMS), also known as petrol.

Recall that it was reported on Tuesday, July 19, that the NNPC had in a notice to oil marketers, approved an upward review in the pump price from N165 per liter to N179 per liter as well as ex-depot price from N148.17 to N167 per liter

Reacting to this in an interview with Garba Deen Muhammad, NNPC’s spokesperson said the oil firm does not function as a regulator and consequently does not set prices for petrol.

He said;

“The NNPC no longer approves pump price review. That is the work of the midstream and downstream authorities.

“I have no idea. They are the ones that tell you what price regime the government has approved, not NNPC. NNPC has already exited all that situation. We are operating just like MTN now.”

An oil marketer who preferred anonymity also told the publication that the claims in the circulated message were “false” and “mischievous” as nothing of such happened between the government and marketers.

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