NNPC SAYS NO PRICE INCREASE IN MARCH

Written by on March 1, 2021

CONTRARY TO SPECULATIONS OF IMMINENT INCREASE IN THE PRICE OF PMS IN THE COUNTRY, THE NNPC HAS RULED OUT ANY INCREMENT IN THE EX-DEPOT PRICE OF PETROL IN MARCH.

THE NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC) HAS ADVISED MOTORISTS TO STOP PANIC-BUYING OF PETROL. IT SAID IT HAS NO PLAN TO INCREASE THE EX-DEPOT PRICE IN MARCH.

NNPC SPOKESMAN, DR KENNIE OBATERU, SAID THIS IN ABUJA.

OBATERU ALSO CAUTIONED PETROLEUM PRODUCTS MARKETERS NOT TO ENGAGE IN ARBITRARY PRICE INCREASE OR HOARDING OF PETROL IN ORDER NOT TO CREATE ARTIFICIAL SCARCITY AND UNNECESSARY HARDSHIP FOR NIGERIANS.

HE ADDED THAT THE CORPORATION HAS ENOUGH STOCK OF PETROL TO KEEP THE NATION WELL SUPPLIED FOR OVER 40 DAYS AND URGED MOTORISTS TO AVOID PANIC BUYING.

HE 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 PUMP PRICE.


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