The Nigerian National Petroleum Corporation, NNPC, has on Monday, March 1, denied the reports making the rounds, of a new increase in the pump price of Premium Motor Spirit, PMS, popularly known as petrol, in the month of March 2021, Page 36 learnt.
The NNPC disclosed this in a statement signed by the Group General Manager, GGM, Group Public Affairs Division, GPAD, Dr. Kennie Obateru.
Obateru stated that the NNPC is not contemplating any raise in the pump price of petrol in March, in order not to jeopardise the ongoing engagements with the Organised Labour, and other Stakeholders, on an acceptable framework that will not expose the ordinary Nigerian to any hardship.
The NNPC also cautioned petroleum products Marketers in the country, not to engage in arbitrary price increase, or hoarding of petrol, in order not to create artificial scarcity, and unnecessary hardship for Nigerians.
The Corporation also stated that it has enough stock of petrol to keep the nation well supplied for over 40 days, and therefore, urged motorists to avoid panic buying, as seen in many Petrol Stations around the country, on Sunday and Monday.
It further called on relevant regulatory authorities, to step up monitoring of the activities of Marketers, with a view to sanctioning those involved in products hoarding, or arbitrary increase of the pump price of petrol.
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