NNPC- Fuel Price Won’t Be Increased
-Nigerian National Petroleum Corporation (NNPC) has announced that it has no immediate plans to increase fuel price
-The Corporation announced that it has stocks that can last over 40 days and Nigerians shouldn’t worry about scarcity
-Group General Manager, Dr. Kennie Obateru urged Nigerians to not be worried about an upward review of petrol price.
Nigerian National Petroleum Corporation (NNPC) on Tuesday dismissed rumors that it is set to increase fuel price.
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Dr. Kennie Obateru the Group General Manager, Group Public Affairs Division of the corporation stated that fuel price has not been increased.
Dr. Obateru added that the corporation doesn’t have plans to increase petrol price in February.
According to Dr. Obateru, Nigerians shouldn’t worry about scarcity as there is a stock of fuel that can last the country for over 40 days.
Obateru also told the Department of Petroleum Resources to monitor marketers that are hoarding fuel.
Independent Petroleum Marketers Association of Nigeria (IPMAN) advised the government to Premium Motor Spirit (PMS) due to an increase in landing cost.
MOMAN Chairman, Tunji Oyebanji however claimed that since FG has deregulated the downstream, marketers can sell at a price that reflects their operational cost.
Consumers have started buying a large portion of fuel out of fear of price increase and scarcity.
Many filling stations have in turn increase their fuel price to N165 while others have it at N170
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