The Nigerian National Petroleum Corporation on Friday said it would maintain its current ex-depot price of Premium Motor Spirit otherwise called petrol until the conclusion of ongoing engagement with the organised labour and other stakeholders.
NNPC had maintained an ex-depot price of N148/litre since February despite the hike in the actual cost of the commodity, hence incurring subsidy of about N120bn monthly.
The corporation’s Group General Manager, Group Public Affairs Division, Kennie Obateru, told journalists in Abuja that at the moment, NNPC was bearing the burden of importing refined petroleum products.
This, he stated, changed into because the oil organization turned into the provider of ultimate motel with the mission of making certain electricity protection for the country.
Shedding greater light at the latest interview with the aid of the Group Managing Director, Mele Kyari, on the State House, Obateru stated NNPC had no aim to preempt ongoing engagement with labour via unilaterally growing the ex-depot fee of petrol.
He said this become no matter the reality that the business enterprise turned into bearing the burden of rate differentials between the landing cost and pump charge of petrol.
“NNPC has made arrangements for strong stock of petroleum merchandise in all its strategic depots across the united states of america to maintain the kingdom well furnished at all times,” Obateru said.
He suggested petroleum products marketers now not to engage in arbitrary fee increase or hoarding of petrol in order not to disrupt the marketplace.
He additionally entreated motorists not to have interaction in panic shopping for, stressing that NNPC become dedicated to making sure merchandise availability in Nigeria.
The NNPC spokesperson assured entrepreneurs and all other stakeholders in the downstream quarter of the oil organization’s sustainable collaboration for the interest of the general public.
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