NNPC GMD says no plans to increase fuel prices

*Petrol nozzle.

*Petrol nozzle.

09 August 2016, Abuja — The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said there is no plan to increase pump prices of petroleum products.‎

Baru, who reluctantly answered only one question from State House correspondents after he met with President Muhammadu Buhari at the State House, in Abuja, said:‎ “I have not been directed to increase pump price; even the other price was based on the recommendation from the regulatory body.

“I’m not aware that they are planning to do any increase, you know there are several factors that necessitated that especially the issue of the exchange rate that has moved and we don’t expect any serious changes.

“So far the request for forex for the importation of gasoline popularly called petrol has been met, and our own supply situation is robust, we are meeting demands. We have over 1.4 billion liters on ground. So I don’t see any basis for an increase.

“However, the review could be done by the right body, you should contact PPPRA, that is the regulatory body as far as petrol pricing is concerned.”
*Tobi Soniyi – Thisday

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