The Nigerian National Petroleum Company Limited (NNPC Limited), on Friday, allayed motorists’ fears of a possible petrol price hike.

The uncertainty has forced consumers to engage in panic buying to hedge against an anticipated price increase, following reports that the landing cost of petrol had shot up.

The national oil company on its X handle asked the public to disregard wide speculations suggesting that a petrol price increase was in the offing.… Read the rest

The National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Festus Osifo, has claimed that the Federal Government was still paying subsidy on petroleum products.

Osifo, who is also the president of the Trade Union Congress, TUC, stated this while speaking on Channels TV’s Politics Today on Friday.

He said due to the cost of crude oil in the international market and the dollar to naira rate, the government still pays subsidy for the product.… Read the rest