NNPC – Petrol price will not go up in March

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Petrol price will not go up in March- NNPC

The Nigerian National Petroleum Corporation (NNPC) has suggested motorists to cease panic-buying of petrol. It stated it has no plan to extend the ex-depot value in March.

NNPC spokesman, Dr Kennie Obateru, stated this in Abuja on Sunday. The ex-depot value is the worth at which depot homeowners promote merchandise to entrepreneurs.

The worth determines how a lot entrepreneurs will promote to motorists at their various gas stations.

“Opposite to speculations of imminent improve within the worth of PMS within the nation, the NNPC has dominated out any increment within the ex-depot worth of petrol in March.

“The company was not considering any rise within the price of petrol in March so as to not jeopardise ongoing engagements with organised labour and different stakeholders on an appropriate framework that won’t expose the ordinary Nigerian to any hardship,” he stated .

Most gas stations within the Federal Capital Territory usually are not selling the product whereas queues are seen in few which are dishing out to motorists. Obateru additionally cautioned petroleum merchandise entrepreneurs to not have interaction in arbitrary worth improve or hoarding of petrol so as to not create synthetic shortage and pointless hardship for Nigerians.

He added that the company has sufficient inventory of petrol to maintain the nation nicely equipped for over 40 days and urged motorists to keep away from panic shopping for.

He additional referred to as on related regulatory authorities to step up monitoring of the actions of entrepreneurs with a view to sanctioning these concerned in merchandise hoarding or arbitrary improve of pump worth.

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