Federal Government Debunks Claims of Fuel Price Hike to N1000 by NNPCL
The Federal Government has dismissed rumors that the Ministry of Petroleum instructed the Nigerian National Petroleum Company Limited (NNPCL) to sell fuel at N1000, a price above the approved rate.
A statement from Nneamaka Okafor, Special Adviser to the Minister of State for Petroleum, clarified that these reports are false and intended to create confusion in the oil industry.
The government emphasized that it does not interfere with NNPCL’s pricing decisions, as the company operates independently under the Companies and Allied Matters Act (CAMA).
The statement also addressed fuel smuggling and pipeline vandalism, highlighting the challenges in curbing these issues due to economic incentives for smugglers.
