Reports that NNPCL was instructed to sell fuel at a price higher than the authorized retail price by the Petroleum Ministry have been denied by the federal government. The government claimed that the report was intended to cause controversy and issues in the oil business in a statement released on Tuesday, September 3, and signed by Nneamaka Okafor, the Special Advisor to the Minister of State for Petroleum.CONTINUE FULL READING>>>>>
Nneamaka said, “FG has not intervened in NNPCL oil prices, let alone recommendations for price increases.”
She said, “The Federal Government must correct the false information currently circulating on social media that the Honorable Minister of Petroleum Resources (Petroleum), Senator Heineken Lokpobiri directed the Nigerian National Petroleum Corporation Limited (NNPCL) to increase the price of oil above the agreed price.”
“We strongly reject these claims as false, malicious and intended to provoke public anger.”
“We ask that anyone with evidence supporting these fabrications – whether written, audio or video – come forward. It should be emphasized that NNPCL is a private entity under the Companies and Activities Act (CAMA) and the board of directors is vested with all powers.”
“The Ministry of Petroleum Resources does not and will not interfere in the internal decisions of the NNPCL, including in matters of remuneration. Any other view is misleading and shows a deep misunderstanding of the degenerate nature of the Nigerian oil industry.”CONTINUE FULL READING>>>>>
