Fidelity bank card banner Emerald Energy Institute Camano banner

No plan to increase fuel price, says NNPC GMD

By News Express on 09/08/2016

Gmail icon

Views: 1,897


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

 

 

CLASSIFIED ADS

 

You may also like...
Man docked over fake N2bn National Assembly contract...

Davido hits 10 million followers on Instagram

New-born baby stabbed and dumped in drainage

Army to hand over soldiers who tortured robbery...

Breaking News: 2015 elections postponed by 6 weeks...

Otun Olubadan was a great man, says Mrs...

NO WAY FOR PETROLEUM INDUSTRY BILL —Kano &...

Release El-Zakzaky or detain us all, protesting Shiites...

Schoolgirl abducted in Sokoto and forcibly converted to...

Metele attack: Army evacuates bodies of dead soldiers...

Breaking: 205 dead in coal mine disaster in...

Presidency lists major security breakthroughs in 2019

 

Latest News 2 killed as gunmen storm Rivers communities Rape case: Fatoyinbo files preliminary objection, says Busola’s case ‘filed out of time’ Akpabio announces plans for industrial clusters in Niger Delta Magashi and challenges of national security Delta tribunal verdict fair, just, well-deserved, says Oyovbaire •Condemns court action as unnecessary Hostage regains freedom after 4 years in pirates’ custody PDP heads for Appeal Court as tribunal upholds Governor Masari’s re-election NNPC unveils plans to revamp refineries from January 2020 Obi advises Nigerian universities to look inwards No meeting between Dickson and Sylva — PDP Youth Network Okowa to Christians: Dedicate your life to serving God Another perspective on xenophobic attacks, By Odimegwu Onwumere

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (542,600 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (443,879 views) Shameless Genevieve Nnaji exposes breasts in public (390,352 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (327,225 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (295,378 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (254,035 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (250,335 views) 10 cars more expensive than Jets (239,112 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (232,027 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (218,012 views) Lagos plane crash: Journalist releases victims’ names (196,293 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (193,868 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (102) Business & Economy (4,454) Business Verdict (80) Columnists (1,113) Complaints & Requests (96) Enterprise & Opportunities (215) Entertainment (666) Features (815) Global Business Monitor (445) ICT Monitor (63) International (3,972) Interview (203) Live Commentary (30) Love Matters (171) Maggie's Blog (418) News (51,603) Opinion (1,364) Pidgin (17) Politics (11,469) Religion (1,103) Sports (2,173) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera