NNPC Denies Increase In PMS Pump Price

Following official adjustment in the price of PMS at NNPC mega stations from N141 per litre to N145 last week, reports emerged that the corporation is also planning to increase the general price of fuel to N150 per litre across the country.

However, in a series of tweets via its official twitter handle, @NNPCgroup, the corporation denied the reports, stating that the national dailies that made the claims in their reports did so erroneously.

The Corporation assured marketers and motorists of its readiness to continue to play its statutory role of being the supplier of last resort and ensuring energy security for the nation.

To ensure energy security for the country, the NNPC said it had over 1.6 billion litres of premium motor spirit (PMS) available to meet 45 days consumption.

1.@NNPCgroup is not empowered statutorily to tinker with the pricing template of petroleum products as erroneously reported in some dailies.

— NNPC Group (@NNPCgroup) November 7, 2016

2. The price adjustment in NNPC downstream facilities from N141-N145/ltr is still within d price band of N135-N145/ltr approved by d PPPRA.

— NNPC Group (@NNPCgroup) November7, 2016

3.@NNPCgroup assures marketers n motorists of its readiness 2 continue 2 be d supplier of last resort n ensuring energy security for Nigeria

— NNPC Group (@NNPCgroup) November 7, 2016

4. @NNPCgroup also wishes to confirm the availability of over 1.6 billion litres of PMS in-country that would last 45 days consumption.

— NNPC Group (@NNPCgroup) November 7, 2016

5. There was no time @NNPCgroup Management met the President to push for a hike in the pump price of petrol to N150 per litre.

— NNPC Group (@NNPCgroup) November 7, 2016

Meanwhile, the Minister of State for Petroleum Resources, Ibe Kachikwu, condemned the N4 adjustment at NNPC mega stations across the country, stating that “there were processes for such decisions”.
He however did not reveal whether the price will be reverted or not.