NNPC Says There’ll Be No Hike in Ex-Depot Price in May

NNPC Says There’ll Be No Hike in Ex-Depot Price in May

The Nigerian National Petroleum Corporation (NNPC) has announced that there’ll be no hike in ex-depot price in May.

This was announced by the NNPC through the Group Managing Director of NNPC, Malam Mele Kyari at the end of a meeting with Petroleum Transport Drivers, Oil Marketers and National Association of Road Transporters Owners (NARTO) On the 19th of April, 2021.

He said:

“We want to inform oil marketing companies that NNPC will not increase the pump price of PMS in May.

“I am giving the assurance and I ask Nigerians to go about their normal businesses; we have over 20 billion litres of petrol in our custody.

“Many of you are aware of this and with the assurance with tanker drivers and NUPENG, there is no need for panic buying of the product.

“Petrol will be available in all the depots in the country including NNPC dispatched depot across the country, so nobody should panic in buying the product.”

He added :

“We have given commitment to both NARTO and PTD that we will resolve the issue within a week and come back to the table to have a total closure on the issue.

“We also have a robust engagement with our oil marketing partners in respect of increase in the volume product that is check in the Nigerian market.

“We have agreed to work jointly with all the security agencies to contain any possible infractions seen in our borders.

“We will work as a team to curtail this fraudulent practice with the help of the security agencies.”

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