The Federal Government has refuted viral reports suggesting that the Ministry of Petroleum ordered the Nigerian National Petroleum Company Limited (NNPCL) to sell fuel at N1000 per litre, far above the approved pump price. The claim, which originated from a report by "Not The Nation," alleged that the Minister of State for Petroleum Resources, Hon. Heineken Lokpobiri, instructed the NNPCL to increase fuel prices.
In response, the Minister’s aide, Nnemaka Okafor, issued a statement on Tuesday dismissing the report as baseless and ill-conceived. She emphasized that the claims were fabricated with the intent to create confusion and discord within the oil industry.
"There was never a time the Federal Government interfered with petroleum pricing at NNPCL, let alone issued directives for a price increment," Okafor clarified. She categorically condemned the allegations, urging anyone with evidence to support the claims to make it public.
“The Federal Government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Honourable Minister for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited (NNPCL) to inflate petroleum prices above the approved pump price,” the statement read.
Okafor further highlighted that NNPCL operates as an independent entity under the Companies and Allied Matters Act (CAMA) and is governed by its Board of Directors. She stressed that the Ministry of Petroleum Resources does not interfere in the internal decisions of NNPCL, including pricing matters.
“Such a claim is entirely devoid of truth and should be recognized as an intentional effort to mislead the public. The Ministry of Petroleum Resources does not, and will not, interfere in the internal decisions of NNPCL, including pricing matters. Any suggestion otherwise is not only incorrect but also reveals a profound misunderstanding of the deregulated nature of Nigeria’s petroleum sector,” Okafor concluded.
