The Group Managing Director
of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has
said there is no plan to increase pump prices of petroleum products.
Baru, who reluctantly
answered only one question from State
House correspondents after he met with President Muhammadu Buhari at the State
House, in Abuja, said: “I have not been
directed to increase pump price; even the other price was based on
recommendation from the regulatory body.
“I’m not aware that they are
planing 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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