The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said there is no directive to the Nigerian National Petroleum Company Limited (NNPCL) to increase the prices of Premium Motor Spirit (PMS), popularly known as fuel to N1,000 per litre....READ THE FULL ARTICLE HERE ▶▶
The Minister made this known in a statement issued by his Special Adviser on Media and Communication, Nnemaka Okafor.
He described the claim that he ordered the NNPCL to increase the price of petrol to N1000 and above as baseless and aimed at inciting public discontent.
This came as his reaction to reports that he ordered the NNPCL to sell petrol above the current landing cost of N1,117 per litre.
The minister has been quoted as saying that the measure would deter the rampant smuggling of petroleum products to neighbouring countries, a practice that have been exacerbated by the previous removal of fuel subsidies in May 2023, which raised petrol prices significantly.
Currently, while petrol averages N701.99 per litre in Nigeria, it is sold for as high as N2,061.55 in Cameroon and over N1,672.05 in the Republic of Benin.
However, in the statement, the minister challenged anyone in possession of any evidence – be it written documents, audio, or video recordings, that supports the claims to make it public, noting that such a claim is entirely devoid of truth and should be recognised as an intentional effort to mislead the public.
The statement read, “The Federal Government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Minister of state Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited (NNPCL) to inflate petroleum prices to one thousand Naira (N1000) above the approved pump price.
“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 recognized as an intentional effort to mislead the public.
“It must be stressed that NNPCL operates as an independent entity under the Companies and Allied Matters Act (CAMA), with a fully empowered Board of Directors.
“The Ministry of Petroleum Resources does not, and will not, interfere in the internal decisions of NNPCL, 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.
“The public is hereby strongly advised to dismiss these malicious rumours. The Minister cannot, and does not, direct NNPCL or any other entity within the sector to manipulate prices. Any claim to the contrary is nothing more than an il- conceived attempt to sow discord and confusion.
“We urge all Nigerians to remain vigilant and rely solely on information from verified and official channels.”
