According to reports, the Nigerian National Petroleum Corporation (NNPC) says there is no plan to increase the price of premium motor spirit (PMS) above N145.
The corporation said there was no time it met with President Muhammadu Buhari to push for a hike in the pump price to N150 per litre.
“NNPC is not empowered statutorily to tinker with the pricing template of petroleum products as erroneously reported in some dailies,” it wrote on Twitter.
“The price adjustment in NNPC downstream facilities from N141 – N145/l is still within the price brand of the N135 – N145/l approved by the PPPRA.
“NNPC assures marketers and motorists of its readiness to continue to be the supplier of last resort and ensuring energy security for Nigeria.
“NNPC also wishes to confirm the availability of over 1.6 billion litres of PMS In-country that would last 45 days consumption.
“There was no time NNPC met the President to push for a hike in the pump price of petrol to N150 per litre.”