Stella Dimoko FG Denies Plans To Increase Petrol Price....


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Friday, January 05, 2018

FG Denies Plans To Increase Petrol Price....

The Ministry of Petroleum Resources has denied reports that there are plans to increase the pump price of petrol. In a statement released by the ministry's Director of Press, Idang Alibi, he said the report making the rounds on social media is false. 

He said:
"Our attention has been drawn to publications making rounds on traditional & social media alleging that the HMSPR Dr. Ibe Kachikwu dropped a hint of an impending fuel price increase during the Joint Senate and House of Representatives Committee hearing on fuel scarcity in Nigeria.The Ministry of Petroleum Resources would like to categorically state that the Honorable Minister ofState, Petroleum Resources all through his presentations at the hearing, neither mentioned nor insinuatedthe need or plans by the FG to increase the current pump price of PMS.

It would be expedient to note that that the Presidency has set up a special committee to identify the immediate and remote causes of the fuel scarcity with a view to finding both immediate and long lasting solutions to the challenge.

The Committee has been in rounds of deliberations in the past few days and these discussions are still ongoing. The final decisions and recommendations from the Committee would be passed on to the President and Commander-In-Chief for approval.

The general public and indeed stakeholders in the Oil and Gas sector are by this statement urged to disregard any such report of a price increase. One of such is as reported by The Nation news.

Further information and communiqué on the resolutions would be communicated as and when due. Idang Alibi Director of Press Ministry of Petroleum Resources


  1. Everytime is deny deny and nothing good comes out of it.

    If you guys like increase to N300 afterall people bought at N500 during christmas, so nothing mega.

    One thing i know is that APC is a failed PARTY

  2. Confusion from those exploiting the situation...

  3. lately? I dont really know, seems he has been 'configured' to lie just like other dignitaries.

    If I start with my question, THEY will say XP has started again. The problem of Fuel Scarcity is not even Systematic, it is Human. The private modular scheme for demand and supply of fuel isn't working sam sam.

    what is the landing cost of fuel into the storage facilities and to retailing filling stations? N171 ko?
    you want them to sell at N145 ba?

    ex-international price is 634 and FG decides to add variable cost of 26 to make it 660, multiplied by 305 at dollar rate then divide it by 1,341 liters that is in one metric tone and you get N151. so the extra charges are what?

    why did FG owe DAPPMA the depot importers with large volume storage to the tune of N800billion up to June?

    who stole and diverted hundreds of trucks of fuel meant to sustain Nigerian demand in Xmas season into neighbouring countries? no tracking as trucks are old and dilapidated?

    the truck owners want FG to drop import charges from 35% to old 5% for good tracking trucks to be in , which 'Cartel' is blocking the move? they are ok with these dead trucks?

    Nigeria's Port charges is the highest in Entire Africa why? NPA charges still 3% on berthing vessels?

    NNPC cannot give fuel to IPMAN members' retail outlets , over a 1000 stations in remote and urban areas because
    they do not have enough? like seriously? and you are blocking DAPPMA from having in their storage farms?

    The 3k per liter being collected at State Boundaries and Tollgates who authorised it? and why does it not reflect on payment templates in NNPC that expects retail price to be N145?

    Is DPR actually monitoring pricing in fuel stations selling at N200+ or collecting their own cut?

    Look, downstream no concern me,etelu ugba, etula ose agam na anya moto steady. Anyhow e be, i go park beside a certain school incinerator and get full tank. No leles.
    Upstream is crying this year, CIF and charges go be helele. This administration na wa.

    Dr Ibe get the refineries working please. Less talk. More action.


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