NNPC speaks on fuel price hike
He said Nigerians should ignore any speculations that pump price will soon increase.
“The ex-depot price of PMS remains N133.28 per litre as at today and this is according to the Petroleum Products Pricing Regulatory Agency (PPPRA) template.
“NNPC remains the sole importer of the product and we have not increased the price we sell to marketer.
“There is no plan to increase pump price, Nigerians should know that,” he said.
He said the corporation had robust stock pile of products that would last the country for several days, adding that there was no need to engage in panic buying.
He said the corporation over the weekend had strengthen the partnership with Major Oil Marketer Association of Nigeria (MOMAN) to ensure adequate supply of products in the country.
“We also told them not to increase price but if they engage in that, it is illegal and we have instructed the Department of Petroleum Resources (DPR) to sanction them.
Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) had recently warned that the pump price of the PMS may sell above N145.
The IPMAN Chairman of Ore Depot, Shina Amoo, who gave this hint, added that the price of the product has increased at the private depot.
According to him, the private depot owners now sell the product between N136.50 and N137 per litre instead of the former N133.28 per litre approved by the NNPC.
“IPMAN may soon start selling beyond N145 per litre if depot owners continued to sell between N136.50 and N137 per litre,” he said.
Post Views: 70
You may be interested
Eucharia Anunobi calls out individuals defrauding peopleWebby - July 31, 2020
<!-- Eucharia Anunobi Ekwu --> Eucharia Anunobi Ekwu Nigerian actress, producer, and pastor Eucharia Anunobi is calling out business people…
Timi Dakolo sends love to those in needWebby - July 31, 2020
<!-- Timi Dakolo --> Timi Dakolo Multiple award winning Nigerian singer-songwriter Timi Dakolo took to his Instagram page to spread…
See Dozens Of Security Operatives Protecting Governor Zulum During Boko Haram Attack (Video)Webby - July 31, 2020
The security operatives surrounding Governor Zulum during Boko Haram attack A video has surfaced showing the moment dozens of security…