The Nigerian National Petroleum Corporation (NNPC) has reiterated that it has no plans to increase the pump price of petrol.
NNPC made the denial in a statement by Mr Ndu ughamadu, its Group General Manager, Group Public Affairs Division.
Mr Ndu ughamadu explained that the recent increase in bridging allowance to transporters from N6.20 to N7.20 per litre would not lead to an increase in the pump price.
”There is no plan by government or any of its agencies to review the pump price of petrol above N145 per litre.
”The rise in the bridging cost was achieved after an adjustment was made in the “lightering expenses” from N4 to N3 per litre and the difference transferred to compensate for the cost of bridging within the same templat.”
Bridging allowance refers to the cost element built into the products pricing template…
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