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Fuel Price: FG Debunks Increase Rumors

Fuel Price: FG Debunks Increase Rumors

  • The federal government has denied rumors that it plans to increase the pump price of petrol
  • The government alleged that the recent queues at filling stations in Abuja had nothing to do with any plan to increase fuel price
  • The news was made known by the Chief Executive Officer of the Midstream Petroleum Regulatory Authority, Farouk Ahmed

The federal government has debunked rumors that it plans to increase the price of petrol following queues being experienced at filling stations in Abuja and some other parts of Nigeria.

The government claims that the queues have nothing to do with any plan to hike fuel price in Nigeria.

The information was announced by the Chief Executive Officer of the Midstream Petroleum Regulatory Authority, Farouk Ahmed on Wednesday.

Ahmed said this while speaking to the statehouse correspondents upon his presentation by President Muhammadu Buhari at the presidential villa in Abuja.

According to Ahmed, the queues are as a result of payment logistics in dollars caused by depot owners and the relevant authorities were already looking to remedy the situation.

He explained that some depot owners are selling fuel above the ex-depot price because they pay for logistics such a shipping and Port charges.

Read also: Nigeria Receives 3 Benin Artefacts From the US

However, the Group Managing Director of NNPC, Mele Kyari disclosed earlier that fuel subsidy removal will be achieved in 2022.

Fuel price

The NNPC boss added that Nigerians can look towards the price of the product being between N320 and N340 per litre.

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