Breaking: Presidency Speaks On Planned Increase Of Petrol Price

The Presidency has assured Nigerians that there will be no increase in the petroleum products pump prices.

CityNews Nigeria reports that the Presidential Spokesman, Ajuri Ngelale, stated this in a chat with State House correspondents in Abuja on Tuesday.

Ngelalae said this in reaction to claims making the round on social media that there are fresh plans to raise the price of petrol from the current N617 per litre to between N720 and N750.

CityNews had earlier reported the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Friday indicated that the pump price of Premium Motor Spirit (PMS) may rise to about N750 per litre.

The National spokesperson of IPMAN, Chinedu Ukadike, noted that NNPCL currently maintains its ex-depot price at N587.7. However, if the NNPCL adjusts its prices, “other marketers will do the same.”

However, the Nigerian National Petroleum Corporation Limited (NNPCL) has refuted the speculations that petrol prices might be increased.