Tuesday, September 6, 2016

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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