Fuel hike: NNPC attributes increase in PMS price to market realities

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The Nigerian National Petroleum Company Ltd., has attributed the increase in the price of Premium Motor Spirit (PMS) also known as petrol to the market

The company’s Group Chief Executive Officer, Malam Mele Kyari, stated this in an interview with newsmen shortly after a private meeting with the Vice President, Kashim Shettima, at the Presidential Villa, on Tuesday, in Abuja.

“And this is the meaning of making sure that the market regulates itself so that prices will go up and sometimes they will come down also and this is really what we are seeing in reality this is how the market works. “I know that a number of companies have imported petroleum; so many of them are online. Market forces have started to play, people have confidence in the market and private sector people are now importing products.

 

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