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NNPC, marketers douse fears of fuel price hike

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To douse fears of possible increase in the pump price of Premium Motor Spirit (PMS), popularly known as petrol, the Nigerian National Petroleum Corporation (NNPC) and marketers in the downstream oil sector have said there are no plans for that now.

It would be recalled that the Nigeria Labour Congress (NLC) had informed that the Federal Government should not test its capability by raising the price of the PMS, under any guise.

The fear by NLC stemmed from recent claims by the corporation that it had been incurring losses, being the sole importer of the commodity, in a quick answer when asked, Group General Manager for Public Affairs, Mr. Ndu Ughamadu, dismissed price hike plans.

This is as the Executive Secretary of Major Oil Marketers Association of Nigeria (MOMAN), Mr. Obafemi Olawore, also denied that there were no discussions between the government and the marketers bordering increase in fuel price.

While noting that NNPC had never complained about the financial burden it shouldered in ensuring that the country remained wet with products, Ughamadu resounded that “There is nothing of such for now. And assuming we are incurring losses, we have not complained. We have various roles to play in the country as supplier of last resort even when others are not supplying”.

“We are not complaining; and we will continue to ensure that our refineries produce at optimum capacity and support production with imports when necessary. There is no directive from the Federal Government to increase petrol price at the moment,” NNPC image maker said.


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