NNPC Denies Purported Claims Of Increase In Fuel Prices

The Nigerian National Petroleum Corporation (NNPC) has refuted claims making rounds that it had plans of increasing fuel price from February.

The NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru reacted to the speculation of petrol selling above the official N162 per litre, told The Nation that there was no imminent upward review. 

He also allayed fears of scarcity of the product by saying that NNPC has a stock of petrol that can last over 40 days. He further urged the Department of Petroleum Resources (DPR) to clampdown on the marketers hoarding petrol.

He said; 

“NNPC has not increased its ex-depot price. I am certain that NNPC is not likely to increase its ex-depot price in February.

“We have sufficiency for almost forty something days. If people are hoarding or increasing their prices that one is for the DPR to look into.”