Federal Gov’t Denies Directive To Hike Petrol Price To N1,000/Litre

The federal government has reacted to trending social media reports claiming that the Minister of State, Petroleum Resources (Oil), Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited (NNPCL) to inflate petroleum prices to N1,000 per litre above the approved pump price.

The government categorically condemned the claims as baseless, malicious, and a deliberate attempt to incite public discontent.

A statement on Tuesday signed by Special Adviser to the minister, Nneamaka Okafor, said the report was concocted and ill-conceived to sow discord and confusion in the oil industry.

“There was never a time Federal Government interfered with petroleum pricing with NNPC, let alone give directives for price increment.

She said, “The federal government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Honourable Minister for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited (NNPCL) to inflate petroleum prices above the approved pump price.

“We categorically condemn these claims as baseless, malicious, and a deliberate attempt to incite public discontent.

“We challenge anyone in possession of any evidence, be it written documents, audio, or video recordings, that supports these fabrications to make it public.

“Such a claim is entirely devoid of truth and should be recognised as an intentional effort to mislead the public.

“It must be stressed that NNPCL operates as an independent entity under the Companies and Allied Matters Act (CAMA), with a fully empowered Board of Directors.

“The Ministry of Petroleum Resources does not, and will not, interfere in the internal decisions of NNPCL, including pricing matters. Any suggestion otherwise is incorrect and reveals a profound misunderstanding of the deregulated nature of Nigeria’s petroleum sector,” the statement said.

It added that the Minister of Petroleum, Lokpobiri, merely elaborated on why fuel smuggling and pipeline vandalism cannot stop.

He said, “If NNPC imports PMS and sells to marketers at perhaps N600 or below, there’s no way that smuggling can stop.

“When smugglers are taking the products outside the country, even if you put all the policemen on the road, they are Nigerians; you and I know the answer”.

“It must be noted that most people have not come to terms with the fact that since the PIA was passed and signed in 2021, NNPC has moved from a government entity to a limited liability company and as such doesn’t take orders from the federal government and its decisions cannot be influenced,” he further noted.