FG directs NNPC to increase fuel price? Fact emerges

• President Bola Tinubu-led federal government has dissociated itself from the decision of the NNPC to increase the pump price of fuel
• Senator Heineken Lokpobiri, Tinubu's minister of state for petroleum resources, said the NNPC operates independently under the Companies and Allied Matters Act (CAMA)
• According to the minister, it is wrong to claim that the federal government directed an independent company to increase the price of its commodity

President Bola Tinubu-led Federal Government has denied issuing a directive to the Nigerian National Petroleum Company Limited (NNPC Ltd.) to increase petroleum prices to N1,000.

Senator Heineken Lokpobiri, Minister of State for Petroleum Resources, made this clarification in a statement issued by his media aide, Nnemaka Okafor, on Tuesday, September 3.

FG denies directing NNPC to increase fuel price Photo Credit: @officialABAT, @senlokpobiri
Source: Twitter

Tinubu govt dissociates from fuel price increase

According to Daily Trust, the Tinubu-led government described the circulating claims as "outright falsehood" and "malicious," aimed at inciting the public against the government.

Lokpobiri challenged anyone with evidence supporting these claims to make it public. He emphasized that the claims are baseless and intentionally misleading.

According to the minister, the NNPC Ltd. operates independently under the Companies and Allied Matters Act (CAMA) with a fully empowered Board of Directors.

FG don't interfere in NNPC internal decisions

Lokpobiri emphasized that the Ministry does not intervene in NNPC Ltd.'s internal decisions, including pricing matters. He urged the public to disregard false rumours and instead rely on information from credible and official sources.

As of Tuesday, NNPC Ltd. retail stations nationwide had adjusted their fuel prices to N897 per litre, while independent marketers were selling between N930 to N1,000 per litre.

The development has sparked outrage among Nigerians, as the rising cost of fuel has influenced the cost of living in the country. The development has been condemned by concerned Nigerians with the Nigerian Labour Congress (NLC), calling for the reversal of the pump price.

Source: Legit.ng