The Federal Government has denied rumours that it planned to increase the price of fuel.
Two months ago the price of fuel was increased from N86.50 to N145 after months of prolonged scarcity.
There had been speculations of a fresh raise, two months after the government increased the price of petrol from N86.50 to N145 a litre.
According to reports, the government was considering new rates as importation of products has been hampered due to the country’s current foreign exchange crisis.
Speaking to journalists on Tuesday after a meeting with President Muhammadu Buhari, the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, said the government had no such plans.
“I have not been directed to increase pump price, even the other price was based on recommendation from the regulated body,” he said.
“I’m not aware that they are planning 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 concern.”
Dolapo is a writer and journalist who works with YNaija. He has interests in Christianity, politics and sports.
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