Confusion as NNPCL increases petrol pump price without Presidential directive

There is emerging confusion as the NNPCL increases petrol pump price without Presidential directive on Tuesday.

The Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, on Tuesday, declared that “no directive was issued to the Nigerian National Petroleum Company Limited (NNPC Ltd.) to increase petroleum prices to N1,000.”

Meanwhile, at various retail outlet of the NNPCL, pump price of petrol have been adjusted to between N855 to N897 per liter. Invariably, NNPCL increases the pump price per liter unilaterally.

The Special Adviser on Media and Communication to the Minister of State, Nnemaka Okafor, in a statement on Tuesday cited Lokpobiri to have emphasized that he did not direct the NNPC Ltd. or any other entity within the sector to manipulate prices.

The Minister of State, in the statement, declared: “The Federal Government has been compelled to address the outright falsehood and malicious claims currently circulating on social media.

READ ALSO: NNPCL adjusts petrol pump price to N855

“We categorically condemn these claims as baseless, malicious, and a deliberate attempt to incite public discontent.

“We challenge anyone in possession of any evidence-be it written documents, audio, or video recordings-that supports these fabrications to make it public.

“Such a claim is entirely devoid of truth and should be recognised as an intentional effort to mislead the public.”

He explained that the NNPC Ltd. operates as an independent entity under the Companies and Allied Matters Act (CAMA), with a fully empowered Board of Directors and the Ministry of Petroleum Resources does not, and will not interfere in NNPC Ltd.’s internal decisions, including pricing matters.

Advertisement

“Any suggestion otherwise is not only incorrect but also reveals a profound misunderstanding of the deregulated nature of Nigeria’s petroleum sector,” he said.

READ ALSO: Dangote officially announces petrol production

He advised the public to dismiss these malicious rumors.

“Any claim to the contrary is nothing more than an ill- conceived attempt to sow discord and confusion.

“We urge all Nigerians to remain vigilant and rely solely on information from verified and official channels,” he said.

Meanwhile, while NNPCL adjusted pump price to at N897 per litre, Independent marketers sales at between N930 to N1,000.

President Bola Tinubu is widely upheld across the country to be the substantive  Minister of Petroleum in his administration.