Kachikwu denies reports of possible increase in prices of petroleum products
During a closed-door
meeting with President Buhari and the Group Managing Director of Nigerian
National Petroleum Corporation (NNPC), Alhaji Maikanti Baru in Abuja on
Monday, the Minister of State for Petroleum, Dr Ibe Kachikwu denied media
reports of the intended increase in the prices of petroleum products
within the country due to media reports that Oil marketers were planning to
increase the prices of Petroleum products due to the scarcity of foreign exchange
to procure the necessary products needed for their business.
Dr. Kachikwu told state House correspondents and that there was no truth in it asking them if they had seen any memo to that effect.
Alhaji Baru backed up what Kachikwu said by also denying there was any planned increase of petroleum products.
Baru advised the correspondents to contact the Petroleum Product Pricing and Regulatory Agency (PPPRA) if they needed more information on the issue.
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