We had no plan to increase Petro (PMS) price – NNPC

The Nigerian National Petroleum Corporation (NNPC) said it has not increase the Ex-Depot price of petrol (premium motor spirit) and no plan is in place to increase it any soon

This was made known by the Group General Manager also the Group Public Affairs Division of the Corporation, Dr Kennie Obateru, while addressing the news agency of Nigeria NAN on Friday at Abuja

He said there is no need for panicking or aggressive purchasing of petrol as they have sufficient product to sustain the entire nation through out this month adding that the agency do lot have plan to increase the Ex-Depot price of petrol as they hold on to the March 1st decision

Ex-deport price is the price at which oil marketers buy products at the depots, the price is what determines the price at which petrol stations will sell to motorists and other users through out the nation

His reaction follow the PMS Pricing template released by the Petroleum Products Pricing Regulatory Agency (PPPRA) on friday that indicated N212.61k Pump price for the month of March.

“NNPC stands by that statement that we issued on March 1 that we are not increasing the Ex-depot price in the month of March and that is what it is.

“There is no need for panicking and I can tell you from our own point of view that we will not increase the pump price of petrol and we are still standing by that March 1 decision.

“We have sufficiency of product in the country and there is really no need for the public to panic. Like I have stated, the ex-depot price for the NNPC is still at it is, it has not increase and it will not increase in this month of March,’’ he said.

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