The Nigerian National Petroleum Corporation (NNPC) has debunked speculations of an impending increase in fuel price.
Ndu Ughammadu, NNPC’s Group General Manager, Public Affairs, disclosed this in statement.
According to Ughammadu, the increase in the bridging allowance to transporters from N6.20 to N7.20 on Monday would be absorbed in the exciting pricing template.
The statement read: “NNPC wishes to assure consumers of Premium Motor Spirit, PMS, otherwise known as petrol that the review of bridging cost would not lead to increase in the price of the white product.
“The review of the bridging allowance which enjoyed the blessing of the Honourable Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, would be absorbed in the existing products import template.”
The increase to N7.20 resulted in the National Union of Petroleum and Natural Gas Workers (NUPENG) suspending its nationwide strike which began on Sunday.