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NNPC Denies Ex-Depot Price Of Petrol Increment


The Nigerian National Petroleum Corporation, NNPC, has denied increment in petrol pump price, adding that the price of ex-depot remains the same despite the rise in the price of crude oil in the international market.

The Group General Manager, Group Public Affairs Division, NNPC, Dr Kennie Obateru in a release, therefore, ruled out any increment in the ex-depot price on Thursday.

Obateru explained that the decision was to allow ongoing engagements with organised labour and other stakeholders on an acceptable framework that would not expose the ordinary Nigerian to any hardship, to be concluded.

The corporation urged petroleum products, marketers, not to engage in the hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.

It gave an assurance that it has enough stock of petrol to keep the nation well supplied for about 40 days.

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The NNPC 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 pump price.

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