26 March 2021 By Shakirat Alabi
The Nigerian National Petroleum Corporation (NNPC) says it will maintain its current ex-depot price of Premium Motor Spirit (petrol) until the conclusion of ongoing engagement with the organized labour and other stakeholders.
The Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru,who stated this while Addressing newsmen in Abuja, said the Corporation, at the moment, was bearing the burden of importing refined petroleum products as the supplier of last resort to guarantee energy security for the nation.
Shedding more light on the recent interview by the Group Managing Director, Mallam Mele Kyari, at the State House, Dr. Obateru stated that the NNPC had no intention to preempt ongoing engagement with labour by unilaterally increasing the ex-depot price of petrol, even though the Corporation is bearing the burden of price differentials between the landing cost and pump price of petrol.
He explained that NNPC has made arrangements for robust stock of petroleum products in all its strategic depots across the country to keep the nation well supplied at all times.
Dr. Obateru urged petroleum products marketers not to engage in arbitrary price increase or hoarding of petrol so as not to disrupt the market.
Dr Obateru who also advised motorists not to engage in panic buying
assured marketers and all other relevant stakeholders in the downstream sector of sustainable collaboration for the public interest.