No plans to hike fuel price, say Kachikwu, Baru, PPPRA

…As Senator berates NNPC GMDs over proposed hike

Minister of State for Petroleum, Dr. Ibe Kachikwu, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, and the Petroleum Products Pricing Regulatory Agency (PPPRA), on Monday, denied plans of possible increase in the pump price of petrol otherwise called Premium Motor Spirit (PMS) in the country.

This is even as Senate spokesman, Senator Aliyu Sabi Abdullahi (Niger North), has frowned at the suggestion attributed to some past and present Group Managing Directors (GMDs) of the Nigeria National Petroleum Coporation (NNPC) that the current price of N145 per liter of fuel was no longer realistic.

Kachikwu and Baru made the denial after a closed-door meeting with President Muhammadu Buhari at the Presidential Villa, Abuja, describing reports of impending increase in the products as untrue.

Pressed on the issue by State House correspondents, Kachikwu asked: “Have you seen any memo to that effect?’’

On his part, Baru said that NNPC has no plan to increase the pump price of petroleum products, stressing that “there is nothing like that.’’

The GMD, however, directed the correspondents to go to the Petroleum Product Pricing and Regulatory Agency (PPPRA‎) for further clarification on the issue.

Recall that oil marketers had indicated intention to increase prices of the products, citing continued scarcity of foreign exchange to finance importation of the products, as reason.

Also, the forum of former Group Managing Directors of the NNPC on Sunday called for increase in pump price of petrol by calling for a removal of price cap in the pricing template.

Reacting to the call by the NNPC GMDs, the Petroleum Products Pricing Regulatory Agency, PPPRA, on Monday, said it will not accept the advice.

The acting Executive Secretary of PPPRA, Sotonye Iyoyo, who made the disclosure, said the proposal was the personal opinion of the former NNPC GMDs.

“If it was a recommendation, that is what it is – a personal opinion. I’m not aware government is planning any fuel price increase. We are in a liberalised market already,” she said.

Also, spokesperson of the NNPC, Garba Deen Mohammed, on Monday, described the advice of the former NNPC chief executives as an “opinion.”

“The forum was expressing its opinion, which it is entitled to. NNPC is a player in the petroleum industry and has a right to have its views about the industry. Nobody is bound by the opinion.”

Meanwhile, Senate spokesman, Senator Aliyu Sabi Abdullahi (Niger North) has cautioned the Federal Government against aggravating an already complicated economy by contemplating further increase in the price of fuel.

Aliyu during an interview with journalists on Monday frowned at the suggestion attributed to some past and present Group Managing Directors of the Nigeria National Petroleum Corporation (NNPC) that the current price of N145 per liter was no longer realistic.

He berated the NNPC GMDs for being responsible for the current woes that the country is going through, noting that they did not have the moral standpoint to advice government on what to do because they have a hand in it.

“Maybe they are sent to destroy this government, but we will not allow that. We will do everything we can to support this government”.

The senator, who stressed that the suggestion by the GMDs is a slap on the faces of Nigerians, said that they ought to have been discrete with it, and insisted that no matter how good their intention was, it is obvious that the leakages they created while in office is responsible for where the country is today.

He argued that refineries in the country stopped working while the GMDs were in officr, adding that the corporation itself has not been run transparently and the maximum benefit of the Nigerian citizens not taken into consideration.

“At least, I knew it was just in this our change administration that the Minister of State Petroleum, Ibe Kachikwu was able to tell Nigerians that they have declared profits now and they are now trying to run. He has brought his wealth of public private sector experience to bear on that corporation that we need to work in a manner that we would be able to say yes we have operated, this is our operating surplus and so we are declaring profits”.

He however explained that presently, President Muhammadu Buhari is grappling with inherited problems and trying his best to see that things are changed.

“I think that within this context whatever we need to do that we need to support him to succeed we have always being ready as we have always done since we came on board to support him. Now as far as I am concerned, if you look at the arithmetics, if things have been well, it is now that Nigerians are even supposed to enjoy because the price of Petroleum has crashed as we know. If we are going to get the pains of not getting enough forex, if we have gotten the joy of having a lower price of Petroleum products which right now we are not getting because the institutional base for it which the NNPC fully represents as the fulcrum has been destroyed over the years by these same people who are assembled to advice. So no matter how well intentioned their advice is, it is unfortunate that it is coming from that particular group and as far I am concerned, they have being part of this mess all along,” Abdullahi said.