No plan to increase fuel price-FG

The Federal Government has assured Nigerians that there is no plan to increase fuel price.

 The Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, gave the assurance on Monday after meeting behind closed-doors with President Muhammadu Buhari.

 Kachikwu and Baru, in separate chats with State House correspondents, denied that there were plans to hike the fuel price from its current N145 rate per litre.

 Asked whether there were plans to further increase the fuel price, Baru responded: "There is nothing like that! Go to the Petroleum Products Pricing and Regulatory Agency (PPPRA‎)."

 Kachikwu first parried a similar question and directed the journalists to the GMD of the NNPC.

 But when interrogated further on any possible fuel price increase, the minister stated: "There is no more to that effect".

 Kachikwu specifically disclosed that there was no memo before the Federal Government seeking a review of the fuel price. 

 Former Group Managing Directors of the NNPC had, at the weekend, advocated an upward review of fuel price, arguing that the current price did not reflect the price-determining components of the commodity and the fluctuations of the foreign exchange rate.

‎

‎