Warning: getimagesize(https://media.energytimesonline.com/wp-content/uploads/2020/08/logo_n-removebg-preview-300x55.png): failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /home/energytimes/public_html/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792
Sunday, April 11, 2021
Home Uncategorized NNPC cautions against Hoarding, Panic Buying of fuel

NNPC cautions against Hoarding, Panic Buying of fuel

 

.Says No Increase in Fuel Price in March

Contrary to speculations of imminent increase in the price of Premium Motor Spirit (petrol) in the country, the Nigerian National Petroleum Corporation (NNPC) has ruled out any increment in the ex-depot price of petrol in March, 2021.

A press release by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that the Corporation was not contemplating any raise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.

NNPC also cautioned petroleum products marketers not to engage in arbitrary price increase or hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.

The Corporation stated that it has enough stock of petrol to keep the nation well supplied for over 40 days and urged motorists to avoid panic buying.

It further called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase of pump price.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

ETI appoints Fashina as Group Executive, Operations & Technology

Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group has announced the appointment of Tomisin Fashina as its new Group Executive for Operations...

Shell pays $3.243b to Nigeria’s govt in 2020

Shell, a global leading oil and gas producer on Wednesday published its 2020 Sustainability Report, its Industry Association Climate Review and its annual Payments...

Eni Makes Big Oil Find Offshore Angola

Eni has made a new light oil discovery in Block 15/06, in Angola’s deep offshore. The well has been drilled on the Cuica exploration...

DPR revokes Addax’s oil mining licenses for non-performance

.Re award licenses  to Kaztec and Salvic Consortium The Director Department of Petroleum Resources (DPR), Engr. Sarki Auwalu, has said that DPR revoked three Oil...

Recent Comments