The Nigerian National Petroleum Corporation (NNPC) has denied any plan to increase the price of petrol.
Addressing a news conference in Abuja, the Group General Manager, Public Affairs Division of the NNPC, Mr Muhammad Garba-Deen said there is absolutely no plan, by the federal government or any NNPC subsidiary to increase fuel price above the 145 naira level.
In reference to a news report that the 145 naira per litre is not sustainable, Mr Garba-Deen explained that the statement was not taken in the right context.
In a chat with Channels Television, he said “if there is going to be anything like that, the agency responsible for fixing the price of petrol – the PPPRA will definitely sensitize Nigerians and give reasons why”.
He stated further: “As of this moment there is absolutely no plan to do that and there is no need to do it because we have more than enough supply. We have a very robust stock of products.
“In addition to that we also have long term procurement contracts with our suppliers. So, the major reasons that will necessitate any review of price at the moment have been well taken care of.”