No Plan To Increase Pump Price Of Petrol – Nnpc

SAN FRANCISCO, April 05, (THEWILL) – The Nigerian National Petroleum Corporation, NNPC, has debunked claims in some quarters that the Federal Government is set to increase the pump price of petrol.

The speculations came on the heels of an increase in the bridging allowance to petrol transporters from N6.20 to N7.20 on Monday .

It would be recalled that the raise of bridging allowance to N7.20 made the National Union of Petroleum and Natural Gas Workers, NUPENG, to suspend its nationwide strike which began on Sunday .

NNPC's Group General Manager, Public Affairs, Ndu Ughammadu however explained, in a statement issued on Tuesday , that the N1.0 increase in transporters' allowance would be absorbed in the existing pricing template.

“NNPC wishes to assure consumers of Premium Motor Spirit, PMS, otherwise known as petrol that the review of bridging cost would not lead to increase in the price of the white product.

“The review of the bridging allowance which enjoyed the blessing of the Honourable Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, would be absorbed in the existing products import template,” the statement read.