Business Hilights

Tracking Nigeria's Headline Business News Online


No plan to increase Fuel Price—NNPCL

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The Nigerian National Petroleum Company (NNPC) Limited has debunked media reports alleging that it had a dispute with Independent Petroleum Marketers Association of Nigeria (IPMAN) over payment subsidy on Premium Motor Spirit (PMS).

Some media houses few days ago, had reported that there was clashed between fuel marketers and the NNPC over whether the government was still paying subsidy.

However, in a swift reaction, the NNPC spokesman, Olufemi Soneye, in a statement on Wednesday, said subsidy has been entirely removed on petrol.

“NNPC Ltd emphasises it has not clashed with any party,” Soneye said, adding that the publication’s headline was unfortunate.

“The publication sought confirmation on alleged subsidy reduction, to which NNPC responded that subsidy has been entirely removed.”

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