President Muhammadu Buhari, Minister of Petroleum
NNPC Says No Plan to Hike Petroleum Price
There was panic-buying of petroleum products in Abuja, capital city of Nigeria on Monday. Motorists said the Nigerian National Petroleum Corporation (NNPC) may increase the price of the product which is officially at N145 per litre.
But the NNPC on Monday in Abuja reiterated that there was no plan to increase the prices of petroleum products.
In a statement, Ndu Ughamadu, the corporation’s Group General Manager, Public Affairs Division, said there was no plan to increase prices at the ex-depot level and pump price ahead of the forthcoming yuletide.
NNPC on Nov. 30, issued a press statement where it stated that there was no plan to increase fuel price at the depot and at filling stations.
But there had been a fissure between the Independent Marketers Association of Nigeria and the Depot and Petroleum Marketers Association over discrepancies in ex-depot prices of the products.
Ughamadu said that the ex-depot petrol price of N133.38 per litre and pump price of N143/N145 per litre had not changed.
He assured the public that the corporation had enough stock of petroleum products to ensure seamless supply and distribution of products across the country, especially during the yuletide.
He urged motorists and other users of the products to disregard trending rumours of an impending fuel price hike.
“The NNPC has the full commitment of all downstream stakeholders, including petroleum marketers and industry unions to cooperate in achieving zero fuel scarcity this season and beyond.
“We enjoin motorists not to engage in panic buying or indulge in the dangerous practice of stocking petrol products in jerry cans at home.
“The Petroleum Products Marketing Company and NNPC Retail Limited are fully geared up to ensure that motorists enjoy uninterrupted access to petrol throughout the nation,’’ Ughamadu said.
The News Agency of Nigeria (NAN) reports that the queues, which were first noticed in few stations on Saturday, spread to more outlets on Monday, forcing motorists into panic-buying.
Some of the filling stations belonging to members of Independent Petroleum Marketers Association of Nigeria (IPMAN) have increased the price of a litre of petrol from N145 to N150.
At some filling station across Abuja, and some NNPC Mega Stations and others operated by major marketers, the queues were longer as they maintained the official price of N145 per litre but were reluctant to sell to motorists.
Some motorists on queue expressed displeasure about the situation and urged the government to act fast before it degenerated into a major problem.