NNPC dispels fear of fuel price increase

The Nigerian National Petroleum Corporation (NNPC) on Sunday dispelled fears of an increase in pump price of petrol in the country. The NNPC in a statement on Sunday by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, refuted reports that the corporation intends to increase the pump price of Premium Motor Spirit (petrol) in March 2021.

The Group General Manager, Group Public Affairs Division maintained that the Corporation is not contemplating any raise in the pump price of petrol in March, noting that the agency does not want to complicate current negotiations with the organised labour and other stakeholders on an acceptable pricing framework that will not cause hardship for the ordinary Nigerian.

The NNPC, accordingly, admonished petroleum products dealers not to impose arbitrary price increase or hoarding of petrol, so as not to create artificial scarcity and hardship for Nigerians.

NNPC assured it has sufficient petrol that will sustain the nation and guarantee adequate supply for over 40 days. The corporation enjoined Nigerians to avoid panic buying, while ordering regulatory agencies to step up monitoring of petrol marketers to forestall products hoarding or arbitrary increase of petrol pump price.