However, NNPC said for now, there was no plan to increase the official pump price from N162 in July.
Group Managing Director (GMD) of NNPC, Malam Mele Kyari stated this on Tuesday during a programme on Channels Television.
He, however, noted that engagements were still ongoing with the Organised Labour to arrive at the appropriate price of the petroleum product, stating that until both parties arrive at a conclusion, the current price remains.
According to him, President Muhammadu Buhari instructed the corporation not to make petrol price out of reach of Nigerians, “especially at this moment”.
“What this means, however, is that we are taking out cash that could have been used for other things to pay under-recovery”, he said.
He revealed that Dangote refinery being constructed in Lagos State would commence operation this year.
You may be interested
Passengers Stranded As Kaduna-Abuja Train Derails In Kubwa [Video]Webby - January 27, 2023
Celebrities2 hours ago“You Can’t Bring Me Down” – IVD Brags About His New Business, Three Months After His Wife’s Death…
Ademola Adeleke Reacts To Election Tribunal Verdict Which Sacked Him As Osun GovernorWebby - January 27, 2023
Osun State Governor, Ademola Adeleke has rejected the judgement of the Election Petition Tribunal that sacked him from office. KanyiDaily…
Fuel Scarcity: APC Presidential Campaign Mobilizes 6000 Bikes, Carmel, Alleges SabotageWebby - January 27, 2023
Advertisement By Lateef Taiwo A Chieftain of the All Progressive Congress (APC), Chieftain Dr. Haruna Garus Gololo has collaborated the…