Federal Government Denies Instructing NNPCL to Raise Fuel Price to N1000 Per Litre

The Federal Government has firmly denied reports suggesting that it instructed the Nigerian National Petroleum Company Limited (NNPCL) to increase the price of fuel to N1000 per litre.

In a statement released on Tuesday, September 3, by Nneamaka Okafor, Special Adviser to the Minister of State for Petroleum, the government condemned the reports as “baseless” and “malicious,” emphasizing that no such directive had been issued by the Ministry of Petroleum.

“There was never a time FG interfered with petroleum pricing with NNPCL, let alone give directives for price increment,” Okafor clarified

Highlighting that the reports circulating on social media are entirely fabricated and intended to incite public discontent.

She further challenged anyone with evidence supporting these claims to make it public, stressing that the Ministry of Petroleum Resources does not interfere in the internal decisions of NNPCL, particularly concerning pricing matters.

 The statement also highlighted the independence of NNPCL, which operates 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,” Okafor added.

The government urged the public to disregard these false reports and emphasized the need for transparency and accountability to address ongoing issues such as fuel smuggling and pipeline vandalism.