NNPC said no increment in petrol price until talks with Organized Labour is Over

The Nigeria National Petroleum Commission (NNPC) said it will maintain the current ex-depot price of premium methylated spirit PMS also know as Petrol until the ongoing negotiation with the Organized Labour is over

This was contained in a statement areleased by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, said the Corporation, at the moment, was bearing the burden of importing refined petroleum products as the supplier of last resort to guarantee energy security for the nation.

The statement released was to clear the air about the rumour of increments in petrol price following the comment made by the group managing director of the corporation, Mele Kyari, who said while in an interview on Friday March 26 that the NNPC can no longer bear the cost of subsidy. 

Kyari had said the NNPC can no longer bear the burden of underpriced sales of petrol, adding that the market price needs to be implemented. He said NNPC pays between N100-120 billion a month to keep the pump price at the current levels.

Obateru said NNPC did not have any intention to take precedent on the ex-depot price of petrol while still on negotiations with Organized Labour even though the Cooperation is the only one bearing the loss by blocking chances of increment in price

He advice the petroleum marketer not to start hoarding products or arbitrary involve in increase petrol pump price of their product, also he urged the motorist

and other consumers to not be aggressively buying petrol

He added that NNPC will commit it effort towards ensuring that there will not energy scarcity for the country

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