No plan to increase petrol cost

  The clarification was made after an NNPC GM said that it was no longer reasonable to sell fuel at N145.
   Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru has said that it’s not in plan to increase the price of fuel.
This clarification was made by NNPC spokesman, Muhammad Garba-Deen after Group General Manager, Crude Oil Marketing, Mele Kyari said that it was no longer reasonable to sell fuel at N145 per litre.

  Garba-Deen says;“As at this moment, there is absolutely no plan to do that  because we have more than enough supply; we have very robust stock of product in our custody. In addition to that, we also have long term procurement contract with our suppliers,”
“The usual reason that would necessitate a review of price at the moment had been taken care of.  We have long term procurement contract with our suppliers; we have more than enough supply to last us throughout the ember months and beyond.
“The statement people are referring to was made within the context of technical explanation, not within the context of downstream operations. The marketers had been complaining and their complaints have been addressed adequately to their satisfaction. A new window has been opened for them, and in fact, what is happening now is that we are waiting for them to deliver.
“A new window to make foreign exchange  available for them for their importation needs have been opened and they are satisfied with it. We have fulfilled our own side of the bargain; we are waiting for them to deliver on their own promises,”Garba-Deen included.

   At the Oil Trading and Logistics Expo in Lagos, that the current price was unsustainable due to the unstable foreign exchange market, Kyari said.