The Nigerian National Petroleum Corporation (NNPC) has debunked the report of any price increment in the Premium Motor Spirit (Petrol) in the country in March 2021.
The NNPC said this in a statement signed by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru on Sunday.
Obateru added that the Corporation was not planning any raise in the price of the commodity in March in order not to jeopardize the ongoing engagement with the organized labour and other stakeholders on an acceptable framework and will not expose the ordinary Nigerian to any hardship.
The NNPC also cautioned petroleum product marketers to avoid arbitrary price increase or hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.
The group also disclosed that it has enough stock of petrol to keep the country well supplied for over 40 days and therefore, urged motorists to avoid panic buying.
It then called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning anyone marketer caught in hoarding or arbitrary increase of petrol.
