The Nigerian National Petroleum Corporation (NNPC) on Tuesday disclosed that there has been no increase on the pump of petrol in the country.
The agency however confirmed that there are pricing issues at some petrol depots in the country which had led to fuel queues in the Federal Capital Territory, and some parts of Nasarawa and Niger states.
The Group Managing Director, NNPC, Mele Kyari, while delivering a presentation at a conference organised by energy correspondents in Lagos on Tuesday, said the corporation had an adequate stock of Premium Motor Spirit (petrol).
Retailers had claimed that the ex-depot price of the product had been increased by private tank farm owners from N148-N149.5/litre to between N153 and N155/litre.
Kyari said, “As we speak now, there is speculation of fuel scarcity within the media, but we have over 1.7 billion litres of Premium Motor Spirit in the country. We have another 2.3 billion litres coming in; so there is no shortage in supply as being speculated.
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Speaking on ‘Petroleum Industry Act: Energy transition and the future of Nigeria’s oil and gas,’ he explained why Nigeria was demanding energy justice at the ongoing United Nations Climate Change Conference (COP26) in Glasgow, Scotland amid the global push for energy transition.
Kyari noted that the COP26 again highlighted the challenges faced by Nigeria and other African countries in the global energy transition.
“We are making good progress in terms of the implementation of the PIA which is clearly creating the path for transition,” he added.
“There is no way we can achieve this feat without adequate infrastructure to transport the resources to where it will be used, and that is why we are investing in massive gas infrastructure.”
 on Tuesday disclosed that there are no plans to increase the pump of petrol in the country.){kind=link}