{"id":88871,"date":"2021-11-22T13:12:00","date_gmt":"2021-11-22T12:12:00","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=88871"},"modified":"2021-11-22T13:12:00","modified_gmt":"2021-11-22T12:12:00","slug":"fuel-pump-price-remains-unchanged-fg-insists","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fuel-pump-price-remains-unchanged-fg-insists\/","title":{"rendered":"Fuel: Pump Price Remains Unchanged, FG Insists"},"content":{"rendered":"<div id=\"m20613\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">The federal government has insisted that the current pump price would remain for now with the expected high rate of travel during the festive period.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal  \">\n<div class=\"clear\" style=\"text-align: justify;\">\nPresently, petrol sells at N162\/163 per litre in most major petrol stations with independent marketers selling at N165\/litre.<\/p>\n<p>The chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Engr. Farouk Ahmed who spoke to journalists in Abuja at the Petroleum Regulators\u2019 1st Invitational Golf Tournament organised by the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC) and NMDPRA, assured consumers that there would be no price increase in the immediate future.<\/p>\n<p>Ahmed who was represented at the event by Ogbogu Ukoha, Executive Director, Distribution Systems, Storage and Retail Infrastructure, said the government was working hard to resolve the challenges faced by operators.<\/p>\n<p>According to him, \u201cI will like to assure everybody that it is mere speculation. There will be no increase in the pump price, not in the near future.<\/p>\n<p>\u201cThis is peak consumption period for Nigerians. Our focus must be on the average Nigerian who is on the street.<\/p>\n<p>&#8221; People will be travelling now and so you don\u2019t increase pump price arbitrarily like that. So the pump price will be maintained and Nigerians should feel free to travel\u201d<\/p>\n<p>He however pointed out \u201cBut having said that, yes there are issues. Last two weeks the chief executive led, for the first time, we had every major player under the same roof.<\/p>\n<p>\u201cThey raised the issues, the issues were addressed as much as we could and we all left with happy faces and handshakes.<\/p>\n<p>\u201cThis is the way forward for now. The NNPC was represented by as high as the Group Executive Director, Downstream, who assured that there will be sufficient supply during this period.<\/p>\n<p>&#8221; And even on the dollar payment issue, they (NNPC) conceded to take freight in naira. This is because as we know the dollar issue is critical. So I will like to assure everybody that there will be no pump price increase,\u201d he added.<\/p>\n<p>Also speaking to journalists at the event, the Chief Executive of NUPRC, Engr. Gbenga Komolafe noted that despite the global clamour for energy transition, the Commission has had fruitful discussions with investors in the industry.<\/p>\n<p>Komolafe stated that Nigeria needed to increase its oil and gas production to meet its national economic and social demands.<\/p>\n<p>He said: \u201cSince I came on board we\u2019ve started various engagements with investors including international oil companies and other independent producers.<\/p>\n<p>\u201cThe feedback we are getting from our engagements with investors has been quite positive regardless of the developments in the outside world, especially with regards to energy transition.<\/p>\n<p>\u201cThe PIA (Petroleum Industry Act) has offered very robust and attractive fiscal regimes and so there\u2019s still quite a lot of investment opportunities in the Nigerian oil sector and we try to canvass that to investors regardless of the challenges posed by the energy transition\u201d.<\/p><\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The federal government has insisted that the current pump price would remain for now with the expected high rate of travel during the festive period. Presently, petrol sells at N162\/163&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":49192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-88871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fuel: Pump Price Remains Unchanged, FG Insists - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/fuel-pump-price-remains-unchanged-fg-insists\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel: Pump Price Remains Unchanged, FG Insists - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The federal government has insisted that the current pump price would remain for now with the expected high rate of travel during the festive period. 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