The Petroleum Products Pricing Regulatory Agency says it did not approve any five naira increase in the pump price of petrol.
The PPPRA fixes and regulates the prices of petroleum products across the country.
It dispelled speculations of an imminent increase in the price of petrol by N5 per litre and stated that it has not given any such approval to anybody or group.
Last week, the senate committee on works in its national road fund establishment bill, proposed a fuel levy charge of N5 tax on every litre of PMS
Meanwhile, the passage of the much awaited Petroleum Industry Bill, expected to transform the oil industry in Nigeria will not exceed this week.
Deputy Chief Majority Whip, Pally Iriase made this disclosure at a press briefing in Abuja.
He said the other bills that will impact positively on the economy will also be passed before the house goes on recess.