NNPC harps on maintaining ex-depot pump price

Chinazor Megbolu

The Nigerian National Petroleum Corpora­tion (NNPC) has harped on maintaining its current ex-depot price of Pre­mium Motor Spirit (petrol).

This was disclosed in a statement made available to newsmen and signed by the Group Gen­eral Manager, Group Public Affairs Division, Dr. Kennie Obateru.

 He said the corporation will maintain ex-depot pump price pending when the organisation would conclude the on­going engagement with the organised labour and other stakeholders.

He said the NNPC, currently, was bearing the burden of importing refined petroleum products as the supplier of last resort to guarantee en­ergy security for the nation.

On the interview by the Group Managing Director, Mallam Mele Kyari, last week at the State House, Obateru hinted the agency has no intention to preempt the ongo­ing engagement with labour by unilaterally increasing the ex-depot price of petrol, even though the Corporation is bearing the burden of price differentials between the landing cost and pump price of petrol.

He noted further that NNPC has made arrangements for robust stock of petroleum products in all its strategic depots across the country towards avoiding any form of scarcity.

Obateru used the medium to appeal to petro­leum products marketers not to engage in arbitrary price increase or hoarding of pet­rol so as not to disrupt the market.

In the same vein, he also charged motorists not to engage in panic buy­ing, saying the corporation was committed to ensuring ener­gy security for the country as the supplier of last resort.

Obateru, in the statement however, promised marketers and all other stakehold­ers in the downstream sector of sustainable partnership for the public interest.