NNPC says no plan to increase petrol price, cautions against panic buying

petrol queues

The Nigerian National Petroleum Corporation (NNPC) has advised 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 disclosed in a statement by its spokesman, Dr Kennie Obateru, in Abuja on Sunday.

READ ALSONigeria’s Digital Switchover: Fresh missteps loom

The 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.

“Contrary to speculations of 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 organised labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship,” he said .

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

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

He further called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase of pump price.

The post NNPC says no plan to increase petrol price, cautions against panic buying appeared first on Vanguard News.

by Urowayino Jeremiah via Vanguard News https://ift.tt/3sDAgLM Wikipedia Our Friends From Virginia

Comments

Hundreds of protesters storm Seplat oil facility in Delta

By Paul Olayemi Hundreds of protesters from Ikweghwu community in Sapele Local Government Area of Delta State, stormed a crude oil facility owned by Seplat Petroleum Development Company, SPDC, on Thursday morning, demanding for jobs and infrastructure development. The protesters, who stormed the facility as early as 6 am, lamented that they were not benefiting from the community’s oil wealth, and demanding an end to what they tagged, oppression and intimidation from the management of the company, ALSO READ: Protesters storm Ebonyi court over judge’s recusal from PDP case The protesters with inscriptions like ‘ we can’t be suffering in our own land’, ‘we need our Memorandum of understanding now’ ‘We need access control’ ‘8 years of slavery, we say no’ and so on, on their placards, danced at the company’s entrance with a DJ providing music non-stop preventing access to the facility. President General of the Community, Comrade David Uyelaju, said they need a clearly wr...

The Washington in the Fifties

The Washington that I knew in the fifties was not the Washington of Dickens, Mrs. Trollope, and Laurence Oliphant. When I knew the capital of our country, it was not "a howling wilderness of first book of Adam and Eve deserted streets running out into the country and ending nowhere, its population consisting chiefly of politicians and negroes";[1] nor were the streets overrun with pigs and infested with goats. I never saw these animals in the streets of Washington; but a story, told to illustrate the best way of disposing of the horns of a dilemma proves one goat at least to have had the freedom of the city. It seems that Henry Clay, overdue at the Senate Chamber, was once hurrying along Pennsylvania Avenue when he was attacked by a large goat. Mr. Clay seized his adversary by the horns. So far so good, but how about the next step? A crowd of sympathetic bootblacks and newsboys gathered 4 around offering advice. "Let go, Mr. Clay, and run like blazes," shouted one...

COVID-19: 10m cases globally, as US, Europe account for over 50 percent

More than 10 million cases of the new coronavirus have been officially declared around the world, half of them in Europe and the United States, according to an AFP tally at 0930 GMT Sunday, June 28, based on official sources. At least 10,003,942 infections, including 498,779 deaths, have been registered globally. Europe remains the hardest hit continent with 2,637,546 cases including 195,975 fatalities, while the United States has 2,510,323 infections including 125,539 deaths. ALSO READ: COVID-19: Women’s jobs disproportionately affected, more to go — ILO Boris Johnson’s government is set to ease virus lockdown restrictions by opening pubs, restaurants and hairdressers among others across England from July, despite predictions of a second wave. The rate of infections worldwide continues to rise, with one million new cases recorded in just six days. The tallies, using data collected by AFP from national authorities and information from the World Health Organization (WHO), pr...

Lastday

Search This Blog