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The Nigerian National Petroleum Corporation (NNPC) has denied reported plan to increase the price of fuel.
In a statement issued by the Group General Manager, Group Public Affairs Division, NNPC, Mr. Garba-Deen Muhammad, the corporation said, “Reference of unsustainability of N145 per litre of petrol only relates to possible spike in international market price of petroleum products.
“This has been mitigated by NNPC’s long-term procurement contract plan that guarantees stable pricing.”
The Group Managing Director, Crude Oil Marketing, NNPC, Mr. Mele Kyari, had on Monday reportedly said that the sale of petrol at N145 per litre was no longer feasible with the current foreign exchange.
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