Malam Mele Kyari, the NNPC’s MD, has assured Nigerians that the price of gasoline will not be raised in July.
Nigerians would continue to buy petrol at N162 per litre till the Federal Government complete its talks with organized labor, according to Kyari.
Nonetheless, the NNPC stated that if the government had stopped paying subsidies, petrol should have sold for N256 per litre.
In July, the Nigerian National Petroleum Corporation (NNPC) announced that the official price of a litre of Premium Motor Spirit (PMS), also known as gasoline, will continue at N162.
The Nigerian National Petroleum Corporation (NNPC) has announced that the official price of a litre of fuel will stay at N162 in July.
Kyari stated that discussions with the Organized Labour on the proper price of gasoline were still ongoing.
Nigerians will be able to buy petrol at N162 per litre till the end of the talks with Labour, according to the NNPC boss.
Despite the fact that the pump price of fuel should be N256 per litre based on the current crude oil pricing, Kyari Kayri said the federal government has opted to continue paying the cost until the government and Labour agree on an appropriate price.
President Muhammadu Buhari, he said, had directed the company to do everything legally feasible to keep the price of petrol within reach of Nigerians.
The NNPC boss also refuted the assertion that, as a result of the subsidy payment, the corporation was now remitting zero naira to the federation account.