The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, says market forces are responsible for the current increase in the pump price of Premium Motor Spirit known as petrol.
Kyari who spoke after a meeting with Vice President Kashim Shettima at Aso Rock, Abuja said with the deregulation of the oil sector, market realities will force the prices of petrol up sometimes and at other times force the prices down.
He said the increase in the price per litre of petrol from over 500 naira to 617 naira is not a supply issue, assuring Nigerians that the country has a robust supply of the vital commodity.