+PETROL PRICE WILL NOT BE INCREASED IN JULY
The Group Managing Director of NNPC, Mallam Mele Kyari, has given reasons why the Corporation is moving to acquire 20 per cent Equity of the Dangote Refinery.
According to Kyari, the operations of Dangote Refinery bothers on energy and physical security of the country and no right thinking Government will stand by without having a say in what obtains there. Kyari maintained that the interest of the Federal Government in moving to sit on the Board of the Dangote Refinery, is to ensure the stability of the market.
Kyari also dispelled the rumour that the NNPC may increase the price of the Premium Motor Spirit, also known as petrol in July. The GMD, said petrol will remain N162 in July, noting that the Corporation is still discussing with the Organised Labour on the appropriate price of petrol.
The NNPC GMD, noted that though the price of petrol should be N256 per litre based on the current crude oil price, the Federal Government, through the NNPC, had decided to continue paying the differential until an appropriate price is agreed upon by the government and Labour.
Mallam Kyari disclosed that President Muhammadu Buhari has directed the Corporation to do everything legally possible to ensure that he price of petrol does not go out of reach of Nigerians, especially at this moment.
Kyari who spoke on a Channels TV programme on Tuesday morning, revealed that contract for the rehabilitation of the Port Harcourt Refinery, has been awarded and that contract for the rehabilitation of Warri and Kaduna refineries would also be awarded in July to ensure their going into production as soon as possible.
-Charles Nwagbara
