The Nigerian National Petroleum Corporation (NNPC) has given an update on the imminent increase in petrol pump price being muted by the Federal Government.
The Corporation says it will not apply any increase until the Federal Government concludes it’s negotiations with labour.
Group General Manager, Group Public Affairs Division at Nigerian National Petroleum Corporation , Kennie Obateru disclosed this in a statement on Friday.
The statement comes barely 24 hours after NNPC Group Managing Director, Mele Kyari revealed that the Federal Government may be forced to increase the pump price of petrol again.
In a state house press briefing on Thursday, Kyari said that it no longer makes sense for NNPC to import petrol at market price and sell at 162 per litre.
He added that the actual market price is between N211 and N234 per litre saying that government can no longer bear the burden of the difference between the actual market price and what Nigerians are paying for petrol.
The NNPC Spokesperson, in his update on Friday said that petrol pump rice will stay at N165 per litre as it will maintain the current ex-depot price of N162 fo the premium motor spirit (PMS) popularly known as petrol until negotiations with labour are over,
Kennie Obateru said that increasing the price at this time will amount to preempting the outcome of the negotiations between government and the trade body.
He added that NNPC has enough product supply advising that buyers have no reason to fear about availability.
Obateru warned marketers against hoarding petrol products and advised citizens not to engage in panic buying.
2 thoughts on “NNPC Gives Update on Imminent Petrol Pump Price Increase”
Comments are closed.