FG speaks on reported directive to NNPC to increase petrol price

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

Mr Lokpobiri, in a statement issued by his Special Adviser, Media and Communication, Nnemaka Okafor, said he did not direct the NNPC Ltd. or any other entity within the sector to manipulate prices.

“The Federal Government has been compelled to address the outright falsehood and malicious claims currently circulating on social media.

“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 said.

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.

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

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.

READ ALSO: NNPC groans under heavy debts as suppliers halt fuel supply amid scarcity

The News Agency of Nigeria (NAN) reports that on Tuesday morning, fueling stations owned by NNPC Retail Limited adjusted their pump price, selling at N897 as against N617 per litre. Independent marketers are selling between N930 to N1,000.

The NNPC had on Sunday lamented heavy debt burden, saying its inability to settle its liabilities to suppliers was threatening its operations.

(NAN)