NNPC reacts to current price of petrol in Nigeria

The Nigerian National Petroleum Corporation (NNPC) has on Friday reacted to the current price of Premium Motor Spirit (petrol), promising to maintain the ex-depot price as it is now until the conclusion of engagement with the organized labour and other stakeholders.

Kennie Obateru, the General Manager, Public Affairs Division, said the corporation was bearing the burden of importing refined petroleum products as the supplier of last resort.

Reacting to a recent interview by the Managing Director, Mele Kyari, at the State House, Obateru told newsmen that the NNPC had no intention to preempt ongoing engagement with labour by unilaterally increasing the ex-depot price of petrol.

The spokesman disclosed that the NNPC had made arrangements for robust stock of petroleum products in all its strategic depots across the country.

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The corporation advised petroleum product marketers not to engage in an arbitrary price increase or hoarding of petrol so as not to disrupt the market.

He also urged motorists not to engage in panic buying and assured marketers and other players in the downstream sector of sustainable collaboration for the public interest.

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