The Nigerian National Petroleum Corporation (NNPC) has said there is no plan in the offing to increase the price of Premium Motor Spirit, also known as Petrol and cautioned motorists to stop panic buying of the products, Njenje Media News reports.
NNPC spokesman, Dr Kennie Obateru who made this known in a statement in Abuja on Sunday said the Ex-depot price remains the same in March.
Obateru said, “Contrary to speculations of an imminent increase in the price of PMS in the country, the NNPC has ruled out any increment in the ex-depot price of petrol in March.
“The corporation was not contemplating any rise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.”
The NNPC mouthpiece also cautioned petroleum products’ marketers not to engage in an arbitrary price increase or hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.
Obateru futher added that the corporation had enough stock of petrol to keep the nation well supplied for over 40 days and urged motorists to avoid panic buying.
