The Nigerian National Petroleum Corporation has admitted that there are pricing issues at some petrol depots in the country but ruled out any hike in the pump price of the product.
Recall that fuel queues resurfaces on Monday in the Federal Capital Territory, and some parts of Nasarawa and Niger states.
Retailers had claimed that the ex-depot price of the product had been increased by private tank farm owners from the recommended N148-N149.5/litre to between N153 and N155/litre.
The Group Managing Director, NNPC, Mele Kyari, while delivering a presentation at a conference organised by energy correspondents in Lagos on Tuesday, said the corporation had adequate stock of Premium Motor Spirit (petrol).
He said, “As we speak now, there is speculation of fuel scarcity within the media, but we have over 1.7 billion litres of Premium Motor Spirit in the country.
We have another 2.3 billion litres coming in; so there is no shortage in supply as being speculated. Of course, there are issues about pricing at some depots but government has no plan to revise the pricing structure.”
According to Kyari, NNPC’s objective is to provide energy security for Nigeria and ensure availability of petroleum products in the country.
Join our Telegram group and receive breaking and trending news updates directly on your phone.
Join for News Updates ✕
