NNPC says it did not authorise new petrol pump price

The Nigerian National Petroleum Company Limited has said it did not direct marketers to fix a new ex-depot price and pump price of petrol.

The oil marketers had said it was no longer sustainable to sell petrol at N165 per litre as fixed by the Federal Government, following the hike in diesel price and other running costs.

On Tuesday, reports claimed that the NNPC, in a notice to oil marketers, approved an upward review in the pump price from N165 per litre to N179 per litre as well as the ex-depot price from N148.17 to N167 per litre.

Already, some filling stations have adjusted their pump prices to reflect the new pump prices.

But reacting to the development, the NNPC’s spokesperson, Garba Deen Muhammed, said the oil firm does not function as a regulator and consequently does not set prices for petrol.

He added that the company had no idea about the issue — as it did not emanate from it.

He was quoted by TheCable as saying, “The NNPC no longer approves pump price review. That is the work of the midstream and downstream authority.

“I have no idea. They are the ones that tell you what price regime the government has approved, not NNPC. NNPC has already exited all that situation. We are operating just like MTN now.”

Fuel queues witnessed in Lagos and other states for about two weeks have disappeared in many areas after filling stations adjusted the pump price of petrol.

The fuel situation is yet to improve in Abuja as long queues are still seen in filling stations.