The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has said there were no plans to increase the price of petroleum products for now.
Baru said though there was an agency saddled with the responsibility of fixing petrol price, President Muhammadu Buhari has said there would be no increase pump price of petroleum products for now.
The NNPC chief who spoke at the 40th Kaduna International Trade Fair Kaduna on Thursday, also announced that oil exploration in the north would continue.
“The issue of petroleum products pricing is not for the NNPC. There is a body for that. That is the Petroleum Products Pricing Regulatory Agency. So, I can’t talk on that.
“However, I’m aware that President Muhammadu Buhari said he is not increasing petroleum price, particularly, that of Premium Motor Spirit,” he said.
Saying that the exploration of oil would continue in the north, the GMD also said the corporation is working on the Kolmani River II with optimism and high expectation.
According to him, the Buhari has urged the corporation to go back to exploration on the Kolmani River II Well and drilling has been going on smoothly.
He added that as of Wednesday morning, the corporation has dug 10,075 ft deep with a target to reach 14,270 ft exploration.