The NNPC and marketers in the downstream oil sector have  opened up on the alleged plans to hike the pump price of PMS, in any other case referred to as fuel.

The Nigeria Labour Congress recently declared that the Federal government should not take its (NLC’s) threat to embark on an industrial action, lightly up by means of hiking the rate.

Reacting, however, the NNPC manager for Public Affairs, Mr. Ndu Ughamadu, stated there was no plan to hike the charge.



He told newsmen that the NNPC had in no way complained about the economic burden it shouldered in making sure that the country had enough PMS.

Ughamadu said, “The government and the NNPC had denied rumours of petrol price increase on several occasions. There is nothing of such for now. And assuming we are incurring losses, we have not complained. We have various roles to play in the country as supplier of last resort even when others are not supplying.

“We are not complaining; and we will continue to ensure that our refineries produce at optimum capacity and support production with imports when necessary. There is no directive from the Federal Government to increase petrol price at the moment.”



Also, the Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore, said there were no discussions among the authorities and the marketers concerning increase in fuel cost.

He said some marketers were even reducing petrol prices, adding, “There is glut in the market, so there is no way anybody will want to think of increasing prices now. The NNPC is over-importing.”


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