Petrol price to increase above N145 soon – NNPC

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The Nigerian National Petroleum Corporation (NNPC) has made known its intention of increasing the price of petrol in the country.

The state-owned firmed made this known when its delegation visited Ahmed Lawan, President of the Nigerian Senate on Wednesday.

Mele Kyari, the new Group Managing Director (GMD), while briefing the leadership of the red chamber described the current petrol price as the cheapest in West Africa.

Mr Kyari said it is difficult to make the commodity available with the present price of the product.

“The N145 per litre fuel price regime in Nigeria runs against the N350 per litre most of the other West African countries operate, encouraging smuggling,” the NNPC helmsman said.

“It is even very difficult for us to make the product available at N145,” he added.

NNPC also said it would lobby the National Assembly to ensure speedy passage of laws relating to the oil and gas industry to enhance performance.

The corporation stated that the move would ensure the emplacement of an enabling legal framework for the growth of the oil and gas sector.

Immediate past GMD, Dr. Maikanti Baru, who was at the meeting, said a visit to the senate president was part of the programmes planned for the period of transition but was not realised due to exigencies.

Baru stressed that he considered it necessary to still visit, even after the formal handover, considering the good relations he enjoyed with Lawal.