Don't sell petrol above regulated price - NNPC warns depot owners

Don't sell petrol above regulated price - NNPC warns depot owners

- Depot owners and terminal operators have been asked not to sell PMS otherwise known as petrol above the official ex-depot price of N133.28k per litre

- The group general manager, group public affairs division of NNPC, Ndu Ughamadu, said ex-depot price is the ceiling at which terminal operators sell products to marketers

- According to Ughamadu, petroleum products marketers have also been cautioned against selling the product above N145 per litre

The Nigerian National Petroleum Corporation (NNPC) has cautioned depot owners and terminal operators against selling Premium Motor Spirit (PMS), otherwise known as petrol, above the official ex-depot price of N133.28k per litre.

Daily Trust reports that the NNPC also warned petroleum products marketers not to sell the product above N145 per litre.

Ex-depot price is the ceiling at which depot owners or terminal operators sell products to marketers, while the pump price of a product is the amount consumers buy it from fuel stations.

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Ndu Ughamadu, group general manager, group public affairs division of NNPC, said the subsisting ex-depot petrol price of N133.28k per litre was consistent with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) template and should be adhered to.

Ughamadu said the NNPC held stock of over one billion litres, adding that imports of 48 vessels of 50 million litres each had been committed for April, 2019, alone.

Earlier, Legit.ng reported that the National Leadership of National Association of Nigerian Students rejected the alleged anti-poor and anti-masses recruitment requirements of the NNPC.

Adeyemi Azeez, NANS National Public Relations Officer (PRO) made the position of the students’ body known in a statement on Sunday, March 31, in Abuja.

NANS alleged that it was a deliberate and well structured resolve to play out many graduates, especially those from the poor background.

READ ALSO: NAIJ.com upgrades to Legit.ng: a letter from our Editor-in-Chief Bayo Olupohunda

According to him, it is no longer news, that regular occurrences of incessant strikes have long marred the education sector of the country.

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Source: Legit.ng

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