Fuel Economy
Fuel Economy

The Nigerian government Is not considering to increase fuel prices for now, a senior official with the state owned oil giant said.

There would be no increased pump price of petroleum products for now, Maikanti Baru, group managing director of the state-owned Nigerian National Petroleum Corporation (NNPC), told reporters in Kaduna in northern Nigeria on Thursday.

There were speculations in different quarters that the federal government had perfected plans to increase the pump price of petrol.

“The issue of petroleum products pricing is not for the NNPC. There is a body for that. That is Petroleum Products Pricing Regulatory Agency,” Baru said at the 40th Kaduna International Trade Fair.

“However, I am aware that Presidnt Muhammadu Buhari said he is not increasing petroleum price,” he said.

Baru added that oil exploration in the north would continue, noting that Buhari had urged the corporation to go back to exploration on the Kolmani River II Well and drilling had been going on smoothly. Enditem

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