The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that there is no plan to increase the price of Premium Motor Spirit (PMS) otherwise known as petrol in the month of February 2021.

This comes after the reported rumour of plans to increase the price of petrol due to the continuous rise in the price of crude oil in the international market and the reported hoarding of the product by some depot owners and marketers.

NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru who reacted to speculation of petrol selling above the official N162 per litre, said that there was no imminent upward review. 

Obateru also assured that the corporation had enough stockpile of petrol to keep the nation well supplied for about 40 days. 

He urged petroleum products marketers not to engage in the hoarding of PMS in order not to create artificial scarcity and unnecessary hardship for Nigerians.

He said;  

“NNPC has not increased its ex-depot price. I am certain that NNPC is not likely to increase its ex-depot price in February.

“We have sufficiency for almost forty something days. If people are hoarding or increasing their prices that one is for the DPR to look into.”

source: https://www.oilandgasgoodness.com/post/nnpc-says-no-plan-to-increase-fuel-price-in-february

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