The Group Managing Director (GMD) of NNPC, Malam Mele Kyari has said, in an interview on Channels Television on Tuesday June 29, the price of petrol will remain same pending the conclusion of negotiation with organized labour. According to him, the pump price of petrol should be N256 per litre based on the current crude oil price but the Federal Government through the NNPC has decided to continue paying the difference until an appropriate price is agreed upon with the Labour unions.
“What this means however is that we are taking out cash that could have been used for other things to pay under-recovery," he added.
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