No increase in fuel price yet – NNPC

The Nigerian National Petroleum Corporation (NNPC) against the backdrop of the new guiding price for Petroleum Motor Spirit (PMS) released by the Petroleum Products Pricing Regulatory Agency (PPPRA), has said there is no increase in its ex-depot price for the month of March.

This was even as it stated that the question of if the Federal Government is now paying subsidy on the commodity, was a matter of simple “logic and arithmetic.”

The Group General Manager, Group Public Affairs Division of the Corporation, Dr Kennie Obateru made the clarification. According to him, despite the increase in oil price at the international market, its ex-depot price remains unchanged since February.

The group GM said regardless of the PPPRA’s guiding price template, the NNPC remains the current sole importer of fuel in the country. we are not going to increase, so irrespective of what the PPPRA has said, that is still our position” he said.