The Nigerian National Petroleum Corporation (NNPC) has insisted that there has been no increment in the ex-depot price of Premium Motor Spirit (petrol) in February this year, despite the rise in the price of crude oil in the international market.
The Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, made this known in a statement on Thursday.
He explained that the decision was to the conclusion of ongoing engagements with organised labour and other stakeholders on an acceptable framework that would not expose the ordinary Nigerian to hardship.
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He urged petroleum products, marketers, not to engage in the hoarding of Premium Motor Spirit (petrol) in order not to create artificial scarcity and unnecessary hardship for Nigerians.
Obateru assured that there was enough stock of petrol to keep the nation well supplied for about 40 days.
He 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 pump price.
