NNPC addresses concerns over rumoured increase in the price of petrol

NNPC addresses concerns over rumoured increase in the price of petrol

- NNPC has pacified Nigerians over the fears expressed about a rumoured fuel price hike

- A spokesperson for the agency, Kennie Obateru, disclosed why Nigerians should not be concerned about the reports

- Obateru issues a warning to marketers hoarding petroleum products

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The Nigerian National Petroleum Corporation (NNPC) has discredited reports claiming that the federal government is planning to increase the pump price of petrol.

A spokesperson for the agency, Kennie Obateru, told The Nation that information available to him indicates that the government is not likely to hike the price of the commodity.

NNPC addresses concerns over rumoured plan to hike pump price of petrol

Mele Kyari, the group managing director of the NNPC speaking at an event Photo: @NNPCgroup
Source: Twitter

Obateru said:

‘’NNPC has not increased its ex-depot price. I am certain that NNPC is not likely to increase its ex-depot price in February.”

The spokesperson allayed fears about scarcity of the product, noting that the agency has a stock of petrol that can last for over 40 days.

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He said marketers hoarding petrol could face sanctions from the Department of Petroleum Resources (DPR).

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Obateru remarks come on the heels of reports that that stakeholder would soon impose a new price of petrol because the landing cost of the product has risen from N151 to N180 per litre due mainly to rising price of crude oil in the international market.

It was reported that the rise of crude oil price from $58 to more than $63 per barrel on Sunday, February 14, culminated in refiners incurring an additional cost in the process of procuring, refining and supplying petrol to consumers, thus causing marketers to also incur an additional cost.

However, the Nigeria Labour Congress (NLC) has told the federal government to drop the idea of imposing another hike in the pump price of petrol.

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In another report, the Department of Petroleum Resources has described an appointment letter circulating on social media purportedly issued to a presidential aide, Bashir Ahmad as fake.

A spokesperson for the agency, Paul Osu, in a statement via Twitter on Tuesday, February 16, said the fictitious letter never emanated from the DPR.

He blamed purveyors of fake news for the letter which has gone viral on the internet.

Kess Ewubare is a senior political/current affairs correspondent at Legit.ng. He has both a BSc and a Master’s degree in mass communication. He has over 10 years of experience in working in several fields of mass communication including radio, TV, newspaper, and online. For Kess, journalism is more than a career, it is a beautiful way of life.

Source: Legit

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