The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said the pump price of petrol across Nigeria will remain unchanged from N145 per litre, adding that there is an existing presidential directive that it must remain at that rate.
Speaking on Friday in Abuja, Kachikwu also disclosed that there would be a massive clampdown on petrol stations across the country that have continued to sell petrol above the government controlled price.
He added that the Petroleum Products Pricing Regulatory Agency (PPPRA), an agency responsible for the review of product pricing templates, would review its pricing template on petrol to ensure that the pump price at N145 per litre is sustained using the necessary means.
“There are social media commentaries implying that when we met with the committee set up by the Senate President to review the causative factors of the fuel scarcity and find solutions, there was a statement credited to me that said that price might be increased to N180. No such statement was made; no such plan is intended,” said Kachikwu.
He added: “I needed to clarify this, because sometimes, some of these rumour mongering all add to the difficulties NNPC had in terms of being able to control price speculation. The president mandate on this issue is very specific: we are not increasing price from N145.”
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