Fidelity bank banner UBA banner
No plan to increase fuel price, says NNPC GMD

By News Express on 09/08/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,418


Maikanti Baru, the Group Managing Director of Nigeria’s state oil company, the Nigerian National Petroleum Corporation, says the Nigerian Government does not plan to increase the price of petroleum products.

There had been speculations of a fresh raise, two months after the government increased the price of petrol from N86.50 to N145 a litre.
Reports said the government was considering new rates as Nigeria’s foreign exchange crisis continues to hamper importation of products.
However, speaking newsmen after a meeting with President Muhammadu Buhari, Baru denied there was a plan to increase the pump prices.
He said. “I have not been directed to increase pump price, even the other price was based on recommendation from the regulated 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 exchange rate that has moved and we don’t expect any serious changes.
“So far the request for forex for 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 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 concern.”
Meanwhile, the Major Oil Marketers Association of Nigeria (MOMAN) has assured Nigerians that pump price of Premium Motor Spirit (PMS), otherwise called petrol, will drop very soon.
This was disclosed by the Executive Secretary of the association, Obafemi Olawore while addressing newsmen in Lagos.
According to Olawore, despite the scarcity of foreign exchange major marketers are relying on their upstream divisions to get dollars to finance their imports. (TV360 Nigeria)
•Photo shows NNPC GMD Maikanti Baru.

Source News Express

Posted 09/08/2016 9:07:24 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
62 Anambra cooperatives receive FADAMA fund for increased...

Nigerian Navy raids illegal refineries in Warri, dismisses...

Bayelsa school principal appointed Perm Sec

Rotten yams export: Agric Ministry chiefs, Customs Boss,...

King Sunny Ade appointed ‘Change Begins With Me’...

Heat threatens 2020 Olympic marathon

Okowa woos investors, says Delta has high return...

Orji inaugurates Abia Transition Committee

Search of UN building by Nigerian military regrettable...

Anti-corruption group petitions NJC over alleged judicial misconduct...

Why I exposed senators’ jumbo pay — Sehu...

Ekiti Guber: PDP candidate Olusola Eleka cries foul...

 

Latest News Presidency: Why it must be Atiku, By Daniel C Nwokwu Buhari makes new appointments, confirms others Governors can pay N30,000 minimum wage: Oshiomhole Imo Gov Race: Okorocha raises alarm over alleged fake court order Nigeria collapsing under Buhari — CLO Court of Appeal reduces jail terms of ex-governors Dariye, Nyame Army builds detention centre for Boko Haram fighters Buhari: I am on track to achieving my plans for Nigeria Nigeria, Uganda friendly tickets now on sale •Stephen Keshi International Stadium Asaba is venue Let’s not plunge Rivers into violence — Abe ‘Stop advertising your ignorance’ — Atiku/Obi Advocacy Group chides Buhari Media Organisation Delta APC factional chairs disagree over reconciliation committee

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (420,956 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (389,956 views) Shameless Genevieve Nnaji exposes breasts in public (322,826 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (271,530 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (244,065 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,465 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (209,004 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (190,464 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (175,832 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,544 views) Lagos plane crash: Journalist releases victims’ names (165,024 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (151,947 views)

 

Zenith Zero Balance First Bank banner

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (73) Business & Economy (3,794) Business Verdict (54) Columnists (963) Complaints & Requests (94) Enterprise & Opportunities (208) Entertainment (566) Features (669) Global Business Monitor (309) International (2,684) Interview (166) Live Commentary (28) Love Matters (146) Maggie's Blog (35) News (40,588) Opinion (1,141) Pidgin (13) Politics (7,744) Religion (900) Sports (1,774) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera