NNPC denies issuing directive on new petrol price

The Nigerian National Petroleum Company, NNPC, has denied issuing the directive on Nigeria’s new petrol price.

The company said fuel pricing directly falls under the responsibilities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA.

The spokesperson for the NNPC, Garba Deen Muhammad, said: “The NNPC no longer approves pump price review. That is the work of the midstream and downstream authority. I have no idea. They are the ones that tell you what price regime the government has approved, not NNPC. NNPC has already exited all that situation. We are operating just like MTN now.”

However, there was confusion in the downstream sector, on Tuesday, as operators unilaterally increased petrol price from N165 to N179 per litre.

In any case, most of the independent marketers were selling between N170 and N200 per litre in complete disobedience to the government directives.

It was gathered that many oil marketers continue to sell at their preferred prices, depending on locations.

According to reports, in Lagos, the NNPC, Limited sold at N169 per litre while the major marketers were seen selling at over N170 per litre.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *