The Federal Government, over the weekend has insisted that the current pump price would remain for now with the expected high rate of travelers during the festive period.
Presently, petrol sells at N162/163 per litre in most major petrol stations with independent marketers selling at N165/litre.
The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Engr. Farouk Ahmed who spoke to journalists in Abuja at the Petroleum Regulators’ 1st Invitational Golf Tournament organised by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC and NMDPRA, assured consumers that there would be no price increase in the immediate future.
Ahmed who was represented at the event by Ogbogu Ukoha, Executive Director, Distribution Systems, Storage and Retail Infrastructure, said the government was working hard to resolve the challenges faced by operators.
He said ,“I will like to assure everybody that it is mere speculation. There will be no increase in the pump price, not in the near future.
“This is peak consumption period for Nigerians. Our focus must be on the average Nigerian who is on the street.
“People will be travelling now and so you don’t increase pump price arbitrarily like that. So the pump price will be maintained and Nigerians should feel free to travel.”