The Nigerian National Petroleum Corporation (NNPC) has denied any plan to increase fuel pump price to N150 per litre.

This is the second time in three weeks that the management of the NNPC would be coming out to deny allegations of planned increase in the petroleum pump price.

Denying the alleged increased in the Pump price, the NNPC management in a statement from the Group General Manager, Group Public Affairs Division in Abuja, Malam Garba Deen Muhammadu stated that the Corporation was not empowered statutorily to tinker with the pricing template of petroleum products as erroneously reported in some national dailies.

The Corporation stated that the price adjustment in its downstream facilities from N141 to N145 per litre is still within the price band of N135 and N145 per litre approved on 11th May, 2016 by the Petroleum Products Pricing Regulatory Agency (PPPRA), the statutory body in charge of petroleum products pricing.

Some national dailies had reported that the management of NNPC was tinkering on increasing the petroleum pump price to N150. This is would not be the first time the alleged plan to increase the petroleum pump price has been in the news.