Written by Godfrey AKON

NNPC denies price hike as fuel queues persist

As fuel queues resurface across Nigeria, the Nigerian National Petroleum Corporation, NNPC, has denied any change to the pump price of petrol in the country.

A statement by the Group General Manager Group Public Affairs Division of NNPC, Mr. Ndu Ughamadu, said the ex-depot petrol price of N133.38 per litre and the pump price of N143/N145 per litre have not changed.

The corporation also assured of the full commitment of all downstream stakeholders including petroleum marketers and industry unions to cooperate in achieving zero fuel scarcity this season and beyond, adding that it has enough stock of fuel to ensure seamless supply and distribution of products across the country. 

It enjoined motorists and other users of petroleum products to disregard trending rumours of an impending fuel price hike as reported in some news platforms, adding that its downstream subsidiary companies are fully geared up to ensure that motorists enjoy uninterrupted access to petrol during the yuletide and beyond.

Meanwhile, the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru, had to cut short his trip to London, where he was billed to receive a Forbes award, in a bid to salvage the fuel supply and distribution challenges witnessed in some parts of the country due to panic buying from motorists. 

Baru, who was billed to receive the Forbes Oil & Gas Man of the Year Award 2017 in the British Capital last Tuesday, flew back home to attend to what he described as a “matter of urgent national importance.” 

Speaking on the development shortly before his departure back to the country, Baru called on Nigerians to stop panic buying as the Corporation was doing everything within its reach to address the situation.

“For the umpteenth time, I wish to call on all Nigerians to stop panic buying. We have said times without number that NNPC has sufficient products to cater for the needs of all consumers,” Baru stated.

Before leaving for London, he had directed that more truckload of petroleum products be dispatched to various parts of the country to cushion the effects of excessive demand caused by panic buying. 

Earlier last week, NNPC informed Nigerians that there was no plan whatsoever to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide. 


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