The Nigerian National Petroleum Corporation (NNPC) has insisted that there is no increase in the ex-depot price of Premium Motor Spirit otherwise known as petrol.
This comes as the Petroleum Products Pricing Regulatory Agency (PPPRA) on Thursday, initiated an upward review of the price of petrol to N212.6 per litre.
PPPRA in a template stated that the expected ex-depot price is N206.42, while the landing cost is N189.61.
NNPC had in a press release on the 1st of March by the Group General Manager, Group Public Affairs Division, Kennie Obateru, stated that the Corporation was not contemplating any raise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.
NNPC also cautioned petroleum products marketers not to engage in arbitrary price increase or hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.
Reiterating its stand on the statement, NNPC tweeted that there is no increase in ex-depot price of PMS in March.
— NNPC Group (@NNPCgroup) March 12, 2021