No price hike, there’s steady supply of fuel – NNPC

The Nigerian National Petroleum Corporation (NNPC) on Thursday said it had not increased the former depot price of Premium Motor Spirit (PMS), popularly known as petrol.

It also stated that there was enough product to last till the end of 2017 and beyond.

Why it matters: Threats by the Lagos chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to withdraw its services in Lagos and its environs over alleged discrepancies in the former depot price of petrol, among others.

Highlights: In a statement issued by the Group General Manager, Group Public Affairs Division, NNPC, Ndu Ughamadu, the corporation said the Ejigbo Satellite Depot was fully stocked and carrying out regular loading services.

It stated that the Ejigbo depot had consistently dispensed petrol at the approved price of N133.28 per litre, contrary to allegations that it was being sold at a higher price.

The NNPC said there was enough petroleum products in the country to last till the end of 2017 and that 25 vessels laden with petroleum products were also being expected to berth between now and January 2018 to further boost supplies.

The corporation urged members of the public not to entertain any fear or engage in panic buying of petroleum products as there was enough to keep the country well supplied.

It stated that the appropriate government agencies had been contacted to settle the rift between IPMAN and the Depot and Petroleum Products Marketers Association.

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