The Nigerian National Petroleum Corporation (NNPC) has declared that it has no plan to increase the current petrol (fuel) pump price of N145 per litre.
However, a statement issued by Ndu Ughamadu, the NNPC Group General Manager, Public Affairs, said that the corporation would continue to bear the cost of under-recovery of petrol through other sources.
“The Federal Government has made it clear; petrol will continue to sell at N145 per litre. NNPC is not operating subsidy,” Ughamadu told Punch.
“What we have done is under-recovery of which we make up from other sources.
“Yes, the under-recovery will continue. The corporation plays many roles in the country. We are an importer of the last resort where others refuse to import.
“We equally operate in a social regime to make sure that the system gets wet with products because if the corporation is not doing that as part of its responsibilities, you can imagine what the system will look like,” he added.