Federal government has denied plans to raise the pump price of transportation fuel in the country despite the controversial subsidy cost overrun by the Nigerian National Petroleum Corporation (NNPC).
The corporation which is currently the sole supplier of subsidized fuel in the country said in a public statement that rumours of impending review of pump prices of petroleum products are unfounded.
Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, said government has no plans to tamper with retail prices of prices of petroleum products either downwards or upwards despite open market price disparity.
The statement cautioned rumour mongers to be wary of the impacts their ignoble act could cause on prices of petroleum products especially petrol as the festive period draws near, adding that if not checked, the insinuation of unsubstantiated price review can lead to artificial scarcity, hoarding of products by consumers which in turn may result in unwarranted queues and suffering of Nigerians at fuel stations.
The NNPC spokesman disclosed that members of the public should report any station, which sells PMS above the N145 recommended price to the offices of the Department of Petroleum Resources (DPR) nationwide, saying the Department, is authorised to monitor and regulate the Industry’s activities.
Ughamadu said the recent statement of the NNPC GMD, Dr. Maikanti Baru, that the corporation had 37 days stock of PMS subsists, stressing that the NNPC’s helmsman has mapped out strategies to ensure that Nigerians have a hitch-free festive period.