Easter celebration: NNPC warns depot owners against inflating prices of petroleum products

Easter celebration: NNPC warns depot owners against inflating prices of petroleum products

- Depot owners have been warned by the NNPC against inflating prices of petroleum products during Easter celebration

- According to the NNPC GMD, the prices of petrol remains N145 per litter in the country

- Maikanti Baru said the corporation has started the rehabilitation of all the three refineries in Nigeria starting with the one in Port Hacourt

The Nigerian National Petroleum Corporation (NNPC) has cautioned depot owners and terminal operators against selling petrol above the official ex-depot price of N133.28 per litter.

Legit.ng regional reporter in Enugu, Ikpechukwu Chinedu, reports that the group managing director of the corporation, Maikanti Baru, who gave this warning on Thursday, April 11, at the 30th Enugu International Trade Fair currently ongoing in Enugu, said that consumers should also be informed that the prices of petrol remains N145 per litter across the country.

Baru who was represented by Anibo Kragha, the chief operating officer, refineries and petrochemicals of NNPC, said the corporation has put every necessary arrangements in place to berth two vessels of 50 million litters of petroleum daily.

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"To make this Easter holiday that is fast approaching pleasurable, NNPC has put all necessary arrangements in place to berth two vessels of 50 million liters of petrol daily.

"I wish to seize this opportunity to caution depot owners or terminal operators against selling petrol above official ex-depot price of N133.28 per litter. Most especially, as consumers of petroleum products, please be informed that the prices of petrol remains N145 per litter in the country.

"Any station which sells the product above the regulated price should be reported to the Department of Petroleum Resources (DPR), the industry regulator or to any law enforcement agency around you."

He hinted that the corporation has started the rehabilitation of all the three refineries in Nigeria starting with the Port Hacourt refinary which, according to him, began last month.

"Our focus on ensuring value addition in our operations has informed the renewed commitment the corporation places on the rehabilitating of the nation's three refineries in Port Harcourt, Kaduna and Warri.

"The revitalization of the plants has commenced in earnest, starting with the 210,000 barrel per stream-day Port Harcourt refinery which first phase of rehabilitation I had the honour to kick off last month," he said.

Earlier in a speech, the president, Enugu chamber of commerce, industry, mines and agriculture, Pharm Emeka Udeze, urged the corporation to look into the dysfunctional NNPC depot in Enugu which has made lifting of the product hectic for marketers.

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"I crave your indulgence to use this opportunity to say this. I don't know what the policy of the corporation is as of today, but permit us to draw the attention of the corporation once more to the dysfunctionality of the NNPC depot in Enugu for the past two decades making the lifting of the product by our members very cumbersome with added cost.

"I pray that the Group Managing Director and the board of the corporation should look into this matter for the needful to be done. We understand the intricacies and challenges but we believe that they are surmountable," he said.

Meanwhile, Legit.ng had previously reported that the NNPC denied the trending fake news of an impending review of pump prices of petroleum products, especially Premium Motor Spirit (PMS), called petrol.

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Price of petrol crashes in Nigeria - on Legit.ng TV

Source: Legit.ng

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