No plans to increase fuel price – FG

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and Group Managing Director of Nigerian National Petroleum Corporation, NNPC, Maikanti Baru, announced yesterday that there was no plan by the Federal Government to hike the price of Premium Motor Spirit, PMS, otherwise known as petrol. The declaration was made on a day Acting Executive Secretary of the Petroleum Products Pricing and Regulatory Agency, PPPRA, Mrs. Sotonye Iyoyo, dismissed calls by former NNPC GMDs that the price of petrol be increased, stressing that the downstream segment of the petroleum industry had already been liberalised. She also noted that the call of the former NNPC bosses was their personal opinion, which had no bearing on the agency’s price template.Though the meeting was convey and chaired by the GMD of the NNPC, but the decision reached there was a mere opinion of the participants.