‘No Plans To Increase Petrol Price From N145 Per Litre’ – NNPC

The Nigerian National Petroleum Corporation (NNPC) says the
ex-depot price of Premium Motor Spirit (PMS) also known as petrol
remains N133.28 per litre.

Ndu Ughamadu, the NNPC Group
Spokesman, disclosed this in an interview with the News Agency of
Nigeria (NAN), in Abuja on Tuesday.

He said Nigerians should ignore any speculations that pump price will soon increase.

“The
ex-depot price of PMS remains N133.28 per litre as at today and this is
according to the Petroleum Products Pricing Regulatory Agency (PPPRA)
template.

“NNPC remains the sole importer of the product and we have not increased the price we sell to marketer.

“There is no plan to increase pump price, Nigerians should know that,” he said.

He
said the corporation had robust stock pile of products that would last
the country for several days, adding that there was no need to engage in
panic buying.

He said the corporation over the weekend had
strengthen the partnership with Major Oil Marketer Association of
Nigeria (MOMAN) to ensure adequate supply of products in the country.

“We
also told them not to increase price but if they engage in that, it is
illegal and we have instructed the Department of Petroleum Resources
(DPR) to sanction them.

Members of the Independent Petroleum
Marketers Association of Nigeria (IPMAN) had recently warned that the
pump price of the PMS may sell above N145.

The IPMAN Chairman of
Ore Depot, Shina Amoo, who gave this hint, added that the price of the
product has increased at the private depot.

According to him, the
private depot owners now sell the product between N136.50 and N137 per
litre instead of the former N133.28 per litre approved by the NNPC.

“IPMAN
may soon start selling beyond N145 per litre if depot owners continued
to sell between N136.50 and N137 per litre,” he said.