NNPC rules out Petrol Price hike, cautions Nigerians

NNPC rules out Petrol Price hike, cautions Nigerians
Join @Naijakit On Telegram For Instant Updates (Click Here)

OVERVIEW OF: NNPC rules out Petrol Price hike, cautions Nigerians

Nnpc Rules Out Petrol Price Hike, Cautions Nigerians

The Nigerian National Petroleum Corporation (NNPC) has cautioned motorists to stop panic buying of Premium Motor Spirit (PMS), also known as petrol, saying it has no plan to increase the ex-depot price in March.

NNPC made this known in a statement by its spokesman, Dr. Kennie Obateru, in Abuja on Sunday.

Ex-depot price is the price at which depot owners sell products to marketers.

The price determines how much marketers will sell to motorists at their various fuel stations.

Obateru said, “Contrary to speculations of an imminent increase in the price of PMS in the country, the NNPC has ruled out any increment in the ex-depot price of petrol in March.

“The corporation was not contemplating any rise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.”

He also cautioned petroleum products’ marketers not to engage in an arbitrary price increase or hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.

He added that the corporation had enough stock of petrol to keep the nation well supplied for over 40 days and urged motorists to avoid panic buying.

Naijakit creates content to benefit users and artists alike. We do this by showing data in an easy-to-digest format.

We help artists track their progress, promote songs and reach their target audience.

We have permission from the artists to display most of our content, where we do not request permission, Naijakit use content under fair use for purposes such as criticism, comment, news reporting, promotion, and research.

Please do not hesitate to contact us, If Naijakit has infringed on your copyright or the copyright of someone you represent, and you want your media files and lyrics to be removed from Naijakit database.

Naijakit will respond to “any and all take-down requests” that comply with the requirements of the Digital Millennium Copyright Act (DMCA), and other applicable intellectual property laws.

Where we get songs to upload?

Naijakit have an upload form on the site, where users have to be registered

to upload song. Admin look at the song and decide if to approve it or not after some checks.

We also receive songs from artists representatives, artists, bloggers asking us to promote songs on our site.

Naijakit TV


Write a Comment


*NOTE:* You Need To Provide a Valid Phone Number Incase we want to reach you back. or you want us to contact you back.. Via your comment.. Thanks, Your Comment is important to us!