Fidelity bank card banner Emerald Energy Institute Camano banner

No approval yet for new fuel price- NNPC

By News Express on 08/11/2016

Gmail icon

Views: 1,328

The Nigerian National Petroleum Co-operation says President Muhammadu Buhari has not approved an increase in Petroleum price from N145 to N150 per litre.

NNPC in a statement on Monday also defended the recent N4 increase in its pump prices saying the price is still within the price band approved by the Petroleum Products Pricing Regulatory Agency (PPPRA).

The body also assures Nigerian that it has at least 1.6 billion liters of petroleum in reserves, which it says will serve the country for at least 45 days.

The statement read, “There was no time NNPC met the President to push for a hike in the pump price of petrol to N150 per litre.”

“NNPC is not empowered statutorily to tinker with the pricing template of petroleum products as erroneously reported in some dailies. The price adjustment in NNPC downstream facilities from N141 – N145/l is still within the price brand of the N135 – N145/l approved by the PPPRA.

“NNPC assures marketers and motorists of its readiness to continue to be the supplier of last resort and ensuring energy security for Nigeria.

“NNPC also wishes to confirm the availability ‎of over 1.6 billion litres of PMS In-country that would last 45 days consumption.

The pump price of petrol in Nigeria rose to N145 per litre earlier this year after President Muhammadu Buhari removed fuel subsidy.

The government said the decision to remove the subsidy was as a result of the fall in oil price and non-availability of foreign exchange.

The government however, said the liberalization of petrol supply and distribution will allow marketers and any Nigerian entity willing to supply PMS to source for their forex and import PMS to ensure availability of products in all locations of the country. (Tv360nigeria)


Source News Express

Posted 08/11/2016 05:41:50 AM





You may also like...
Nigeria uncovering network of killers, says Buhari

NASS blockage by security operatives, a disgrace to...

Buhari’s anti-corruption campaign below par – Transparency International,...

2016 Budget will include new policies to boost...

Gunmen abduct Catholic Priest in Delta

War against immorality: South Sudan bans discos, nightclubs...

IPOB reveals Nnamdi Kanu’s position on 2019 Presidential...

FG ordered to produce Dasuki for trial

Kidnappers abduct 5 in Kogi, demand N10m

MRA demands immediate release of Agba Jalingo, accuses...

Peter Obi empowers Agulu youths with N24m, 41...

Presidential Panel grills Ebonyi REC over alleged N300m...


Latest News Unbeatable Abdul Titi Kone re-emerges African Freestyle Football Champion Wadume: Military, Police disagreement stalls trial of kidnap kingpin, other suspects Unknown gunmen kill traditional ruler Igbos storm United Nations over alleged marginalisation by Buhari administration Minimum wage talks deadlocked again as FG, Labour fail to reach agreement NFIU clears the air on letter seeking bank account details of senators, judicial officers Over 100 LGAs ravaged by flood in 33 states Sacked Lecturer: PUNCH Correspondent arrested over petition Xenophobia: Apologies from South Africa not enough, says HURIWA Islamic State Leader issues fresh battle cry Abuja not under any form of siege — IGP Boko Haram: Borno Governor demands more protection for Maiduguri •Details of how terror group shook UNIMAID


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (540,812 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (443,101 views) Shameless Genevieve Nnaji exposes breasts in public (389,396 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (326,705 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (294,690 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (253,650 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (249,766 views) 10 cars more expensive than Jets (238,395 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (231,484 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (217,505 views) Lagos plane crash: Journalist releases victims’ names (195,850 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (193,453 views)


CBN milk production

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (102) Business & Economy (4,444) Business Verdict (80) Columnists (1,109) Complaints & Requests (96) Enterprise & Opportunities (215) Entertainment (664) Features (812) Global Business Monitor (442) ICT Monitor (63) International (3,955) Interview (203) Live Commentary (30) Love Matters (170) Maggie's Blog (414) News (51,389) Opinion (1,359) Pidgin (17) Politics (11,447) Religion (1,102) Sports (2,168) Stock Watch (39) AMA & Al Jazeera Global Update







APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera