The Nigerian National Petroleum Corporation has announced that there would be no increase in the ex-depot price of petrol in the month of May.
This was made known by the Group Managing Director of NNPC, Mele Kyari, on Monday in a statement.
Kyari stated that an ex-depot price which is the cost of petrol at depots remain N148/litre since February despite the hike in the actual cost of the commodity.
He noted that the NNPC incurs subsidy of over N120bn monthly.
Kyari stated further that the intervention of NNPC led to the suspension of the proposed strike over the impasse between the PTD and the National Association of Road Transport Owners by the Petroleum Tanker Drivers.
“Following GMD #NNPC Mallam @MKKyari’s intervention in the National Association of Road Transport Owners/Petroleum Tanker Drivers impasse, PTD has just announced the suspension of its planned strike until closure of discussion between both parties.
“Also, the GMD announced that there would be no increase in the ex-depot price of Premium Motor Spirit in the month of May 2021,” he said.