Disregard Reports of Petrol Price Increase, FG Tells Nigerians Emmanuel Addeh in Abuja The federal government yesterday said it had not approved a new petrol pump price, stating that such decisions were usually
The federal government yesterday said it had not approved a new petrol pump price, stating that such decisions were usually not taken in secret or without consultation.
He stated that any increase now would mean the president backtracking on his pledge to make sure prices are not raised at this time given current national challenges. While promising to ensure normalcy returns to the supply of the product soon, Sylva said the rumours were planted by people he described as mischief makers.
The marketers also contended that there is confusion currently in the downstream sector of the oil industry as scarcity continues to linger nationwide. In many states of the federation a litre currently sells for as high as N400. “Sometime in July-August, the volume of lifting we had and what we have today has dropped by about 50 percent or 40 percent,” he added.
“As of today, with what is trending in the private depots, the volume available is not enough. The private depots also contribute by not giving the product as it is being regulated by the NNPC,” he argued.
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