NNPC speaks on plans to increase pump price above N145 per litre

The Nigerian National Petroleum Corporation (NNPC) has stated that there is no plan to increase pump price above N145 per litre, because the ex-depot price of Premium Motor Spirit (PMS) also known as petrol remains N133.28 per litre.

Ndu Ughamadu, the NNPC Group Spokesman, made this known during an interview in Abuja on Tuesday.

“The ex-depot price of PMS remains N133.28 per litre as at today and this is according to the Petroleum Products Pricing Regulatory Agency (PPPRA) template.

“NNPC remains the sole importer of the product and we have not increased the price we sell to marketer.

“There is no plan to increase pump price, Nigerians should know that,” he said.

He advised Nigerians to desist from panic buying because the corporation had robust stock pile of products that would last the country for several days.

He said the corporation has ensured that there will be adequate supply of products in the country as they had strengthened partnership with Major Oil Marketer Association of Nigeria (MOMAN).

“We also told them not to increase price but if they engage in that, it is illegal and we have instructed the Department of Petroleum Resources (DPR) to sanction them.

His information is coming just a day after members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) warned that the pump price of the PMS may sell above N145.

This was hinted by IPMAN Chairman Ore Depot, Shina Amoo, who said:
“IPMAN may soon start selling beyond N145 per litre if depot owners continued to sell between N136.50 and N137 per litre.”

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