NNPC Group Managing Director, Maikanti Baru
has ruled out the possibility of any increment in
petrol pump price. Baru said this today to state
house correspondents while reacting to media
reports that oil marketers may soon increase
pump price of petrol due to the scarcity of
dollar and high exchange rates. According to
Baru, he has not gotten any presidential
directive to increase the pump price of petrol
“I have not been directed to increase
pump price, even the other price was
based on recommendation from the
regulated body. I’m not aware that they
are planing 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”
he said
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