No plan to increase fuel price, NNPC tells Nigerians

by Azeez Adeniyi

The Nigerian National Petroleum Commission (NNPC) on Tuesday debunked reports that the Federal Government was planning to increase price of petroleum.

There had been insinuations that the increase in the bridging allowance to transporters from  N6.20 to  N7.20 would lead to an increase in fuel price.

But in a statement by the Corporation’s Group General Manager, Public Affairs, Ndu Ughammadu, NNPC said the N1.0 increase in transporters’ allowance would be absorbed in the existing pricing template to maintain existing pump price ceiling.

[Read Also: Petroleum tanker drivers suspend strike]

It stated: “NNPC wishes to assure consumers of Premium Motor Spirit, PMS, otherwise known as petrol that the review of bridging cost would not lead to increase in the price of the white product. “The review of the bridging allowance which enjoyed the blessing of the Honourable Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, would be absorbed in the existing products import template.”

Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru had on Monday announced an increase in the bridging allowance after a meeting with NUPENG members over a planned strike action by Petroleum tanker drivers.

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