The Group General Manager, Group Public Affairs Division, Dr Kennie Obateru, yesterday dismissed rumours about an imminent upward review of the price of premium motor spirit (PMS), popularly known as petrol.
According to him, NNPC has not increased its ex-depot price and is not likely to increase it in February 2021.
He disclosed that NNPC has a stock of petrol that can last for over 40 days and urged the Department of Petroleum Resources (DPR) to clamp down on the marketers hoarding petrol.
His words: “We have sufficiency for almost 40 days. If people are hoarding or increasing their prices, it is for the DPR to look into it”.
On its part, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Federal Government to return subsidy to Premium Motor Spirit (PMS) as landing cost has soared to N180 per litre. IPMAN’s National Vice President, Alhaji Abubakar Maiganidi, posited that government should either deregulate the product fully or subsidise it.
Speaking through its Chairman, Tunji Oyebanji, the Major Oil Marketers of Nigeria (MOMAN) denied that there was an increment in the pump price of petrol. It wondered whether any fuel marketer was getting supply from any source other than the NNPC.
Many fuel stations have adjusted their fuel pump prices from N162.50k to N165 per litre, while some others went as high as N170.00 per litre.