NNPC denies increment in petrol price

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The Nigerian National Petroleum Corporation (NNPC) has denied reports of plans to increase the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, in March 2021.

This was made known in a statement signed by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru on Sunday.

Obateru stated revealed that the corporation has in fact ruled out any increment in the price in March and this is in a bid not to jeopardize ongoing engagements with the organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.

In the statement, NNPC also issued warning to petroleum products marketers against engaging in arbitrary price increases or hoarding petrol, so as to avoid artificial scarcity and undue hardship for Nigerians adding that the country has enough stock of petrol to keep the nation well supplied for over 40 days.

It further called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase of the pump price.

 



Abisola Adebayo

Abisola Adebayo is a Reporter/Presenter/Social Media Manager for Tv360Nigeria. She is a first class graduate of the department of Mass Communication at Fountain University, Osogbo. Abisola is currently running her Masters Degree at the University of Lagos. The Social Media savvy young lady is ambitious and driven, likes trying new things and sets new goals for herself. Always looking for an opportunity to do better and achieve greatness.


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