Obanla Ridwan Olawale
The Federal Government has refuted claims that the Ministry of Petroleum Resources directed the Nigerian National Petroleum Company Limited (NNPCL) to raise the price of petrol to N1,000 per liter. Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), made this clarification on Tuesday through a statement issued by his Special Adviser on Media and Communication, Nnemaka Okafor.
“The Federal Government strongly denies the baseless and malicious claims circulating on social media,” Lokpobiri stated. “These allegations are completely unfounded and seem to be an intentional attempt to stir public unrest.”
He emphasized that the NNPC operates as an independent entity under the Companies and Allied Matters Act (CAMA) with its own Board of Directors. “The Ministry of Petroleum Resources does not interfere in NNPCL’s internal decisions, including those related to pricing,” the minister added.
Lokpobiri urged the public to disregard the rumors and rely only on information from verified sources. “Any suggestion otherwise reflects a misunderstanding of the deregulated nature of Nigeria’s petroleum sector,” he noted.
This denial comes after recent reports that some NNPC retail stations had adjusted their pump prices to N897 per liter, while independent marketers were selling between N930 and N1,000 per liter.
Meanwhile, Peter Obi, the former presidential candidate of the Labour Party, has called on Nigerians to demand greater transparency from the NNPCL. In a statement on Tuesday, Obi criticized the conflicting reports on subsidy payments and expressed concern over the lack of clarity in NNPCL’s operations.
“It is troubling that NNPCL, which declared a N3 trillion profit in 2023, is now claiming financial constraints in supplying fuel,” Obi said. He attributed the ongoing fuel scarcity and the resulting hardships to government mismanagement, citing issues such as the difficulties faced by the Dangote Refinery and other modular refineries in securing crude oil supplies.
Obi also called for stricter adherence to the Petroleum Industry Act, which mandates transparency in NNPCL’s operations. “The Nigerian people deserve better, and we should hold the government accountable for this crisis,” he concluded.
