Petrol: NNPC makes crucial clarification on alleged proposed increment, sends message to marketers

Petrol: NNPC makes crucial clarification on alleged proposed increment, sends message to marketers

- At least throughout March 2021 Nigerians will not have to bother about an increment in petrol prices

- The assurance was given by the NNPC on Sunday, February 28

- The corporation added that it has enough of the product to supply to the nation for more than a month

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The Nigerian National Petroleum Corporation (NNPC) has explained that it has no intention of increasing the price of petrol in the country contrary to what is being alleged.

Kennie Obateru, the NNPC's head of public affairs division, in a statement on Sunday, February 28, noted that that the organisation cannot be considering a raise in the product at a time when it is still negotiating with organised labour on a framework suitable for citizens, Channels TV reports.

Obateru stated that any move by the NNPC at the moment to increase the price of fuel will jeopardise its engagement with labour unions on how best to lessen Nigerians' hardship.

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Petrol: NNPC makes crucial clarification on alleged proposed increment, sends message to marketers
The NNPC has said that it has no plan to increase the price of petrol in March 2021 (Photo: @NNPCgroup)
Source: Twitter

The corporation also warned marketers not to create a situation of artificial scarcity of petrol by arbitrarily increasing prices and hoarding of the products.

It also urged monitoring bodies to checkmate the activities of marketers who are bent on adding to the pain of citizens.

Added to this, the NNPC encouraged motorists not to panic as it has enough of the product that will last for the next 40 days.

Meanwhile, indications emerged on Monday, February 15, that stakeholders would soon emerge with a new price of petrol.

Legit.ng gathered that the newspaper said the landing cost of the product has risen from N151 to N180 per litre due mainly to the rising price of crude oil in the international market.

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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.

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Onyirioha Nnamdi is a graduate of Literature and English Language at the University of Lagos. He is a Politics/Current Affairs Editor who writes on news and political topics for Legit.ng. He brings into his reporting a wealth of experience in creative and analytical writing. Nnamdi has a major interest in local and global politics.

Source: Legit

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