No Plan To Increase Petrol Price

Both agencies, the Petroleum Products Pricing Regulatory Agency (PPPRA) and the Nigerian National Petroleum Corporation (NNPC) have reaffirmed that the Federal Government has no plan to increase the price of Premium Motor Spirit (PMS), also known as petrol.

Mr Olasupo Agbaje, The General Manager Operations of PPPRA, made the declaration on Monday while addressing reporters in Abuja, Nigeria’s capital.

He said the agency has also commenced the payment of the new bridging allowance to tanker drivers, as approved by the government recently.

The clarification comes barely a week after the Nigerian National Petroleum Corporation (NNPC) said it has no plan to increase the pump price of petrol.

The Corporation (PPPRA), in a statement, stated that the recent increase in bridging allowance to transporters will not affect the prevailing petrol price of 145 Naira per litre.

While The NNPC also reiterated its commitment to sustaining the existing cordial relationship between the Corporation and the leadership of the downstream industry unions and other stakeholders.

In a statement issued on Wednesday by the NNPC spokesman, Ndu Ughamadu, the Corporation explained that the recent increase in bridging allowance to transporters from 6.20 Naira to 7.20 Naira per litre will not affect the prevailing petrol price of 145 Naira per litre.

According to the statement, the clarification was made in Abuja by the NNPC Chief Operating Officer (COO) in charge of Downstream Operations, Mr Henry Ikem Obih.