The Nigerian National Petroleum Corporation, NNPC, has reacted to speculations about an imminent increase in petrol price in the country.
The Corporation ruled out any increment in the ex-depot price of petrol in March 2021, as it also stated that it had no plan to increase the cost of the product.
However, the Group General Manager, Group Public Affairs Division, Dr Kennie Obateru, warned the general public against hoarding and Panic buying.
Obateru stated that the Corporation would not jeopardize the ongoing engagements with organized labour and other stakeholders on an acceptable framework.
NNPC also cautioned petroleum marketers not to engage in an arbitrary price increase or hoarding of petrol to create artificial scarcity.
The Corporation further stated that it has enough petrol to keep the nation well supplied for over 40 days.
Meanwhile, the NNPC called on relevant regulatory authorities to monitor marketers’ activities to sanction those involved in products hoarding or arbitrary increase of pump price.
Everyever.ng had reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) advised Nigerians to stop Premium Motor Spirit’s panic buying.
The Public Relations Officer of the Association, Suleiman Yakubu, advised motorists as filling stations witness fuel scarcity in many states including the Federal Capital Territory, FCT, Abuja.