NNPC attributes increase in PMS price to market realities
The Nigerian National Petroleum Company Ltd. has attributed the increase in the price of Premium Motor Spirit (PMS), also known as petrol, to market realities.
The company's Group Chief Executive Officer, Malam Mele Kyari, said this in an interview with newsmen shortly after a private meeting with the Vice-President, Kashim Shettima, at the Presidential Villa, Abuja.
Kyari explained that the increase in the price of PMS had nothing to do with supply issues, adding that there is robust supply of the product in the country.
"I don't have the details at this moment. You know we have the marketing wing of the company; they adjust prices depending on the market realities.
"And this is the meaning of making sure that the market regulates itself so that prices will go up and sometime...