No Directive To NNPCL To Increase Petrol Pump Price But… – FG Says

The Federal Government on Tuesday, September 3, 2024 said it did not grant the Nigerian National Petroleum Corporation Limited approval to sell petrol at N1,000 per litre.

The Federal Government which was made known by the Minister of State for Petroleum Resources, Senator Heineken Lokpobori, said that it was outright falsehood to link any increase in the pump price of petrol to the government.

Lokpobiri however said that the Federal Ministry of Petroleum Resources does not, and will not, interfere in the internal decisions of NNPCL, including pricing matters, stressing that any suggestion otherwise is incorrect and reveals a profound misunderstanding of the deregulated nature of Nigeria’s petroleum sector

In a statement by his Special Adviser, Nnemaka Okafor, Lokpobiri said the Federal Government was compelled to address what it described as an ‘outright falsehoods’ currently being circulated on social media, claiming that he directed the NNPC Ltd to inflate petroleum prices above the approved pump price.

While condemning the claims, Lokpobiri categorically said that there were baseless, malicious, and a deliberate attempt to incite public discontent.

He further said; “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.