The Nigeria National Petroleum Corporation, NNPC says, inspite of the rise in the price of crude oil in the international market, it has ruled out any increment in the ex-depot price of Premium Motor Spirit also known as petrol in the month 2021.
A Statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru says, the decision is to allow ongoing engagements with Organized Labour and other Stakeholders to be concluded on an acceptable framework that will not expose the ordinary Nigerian to any hardship.
The Statement urges Petroleum Products Marketers not to engage in hoarding of Petrol in order not to create artificial scarcity and unnecessary panic as there is enough stock of petrol to keep the nation well supplied for about 40 days.
The Statement further calls 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 Petrol pump price.
