No Plans To Increase Petrol Prices – NNPC

[caption id="attachment_10715" align="alignnone" width="650"]Dr. Maikanti Baru, NNPC GMD[/caption]

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said there is no plan to increase the prices of premium motor spirit, also known as petrol.‎

Baru made the clarification while fielding questions from State House correspondents after he met with President Muhammadu Buhari at the State House, in Abuja on Tuesday.

He said,‎ “I have not been directed to increase pump price; even the other price was based on recommendation from the regulatory body.

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“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 concerned.”

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