The Nigerian National Petroleum Corporation, NNPC, has ruled out the possibility of fuel price increment before the end of February as being rumoured.
The Corporation assured Nigerians that despite the increase in crude oil price in the international market, the cost of the product would not be increased in Nigeria.
Dr. Kennie Obateru, NNPC’s Group General Manager, Group Public Affairs Division, disclosed this in a statement he signed.
According to the statement: “In spite of the rise in the price of crude oil in the international market, the #NNPC has ruled out any increment in the ex-depot price of Premium Motor Spirit (petrol) in February, 2021.
“The decision was to allow ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship, to be concluded.”
Obateru appealed to petroleum marketers not to engage in hoarding of Premium Motor Spirit, also known as petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.
He said the Corporation has enough stock of petrol to keep the nation well supplied for about 40 days.