The Nigerian National Petroleum Corporation on Thursday said it had not increased the ex-depot price of Premium Motor Spirit, popularly known as petrol.

It also stated that there was enough product to keep the country wet till the end of this year and beyond.

The NNPC stated this following threats by the Lagos chapter of the Independent Petroleum Marketers Association of Nigeria to withdraw its services in Lagos and its environs over alleged discrepancies in the ex-depot price of petrol, among others.

In a statement issued by the Group General Manager, Group Public Affairs Division, NNPC, Ndu Ughamadu, the corporation said the Ejigbo Satellite Depot was fully stocked and carrying out regular loading services.

It stated that the Ejigbo depot had consistently dispensed petrol at the approved price of N133.28 per litre, contrary to allegations that it was being sold at a higher price.

The NNPC said there was enough petroleum products in the country to last till the end of the year and that 25 vessels laden with petroleum products were also being expected to berth between now and January 2018 to further boost supplies.

The corporation urged members of the public not to entertain any fear or engage in panic buying of petroleum products as there was enough to keep the country well supplied.

It stated that the appropriate government agencies had been contacted to settle the rift between IPMAN and the Depot and Petroleum Products Marketers Association.

Meanwhile, former President Olusegun Obasanjo on Thursday lauded the management of the NNPC for the newly constructed ultra-mega station in Sagamu, Ogun State.

Obasanjo, who was represented by Chief Idowu Akanle at the inauguration of the facility, described the successful execution of the project as part of the strategies to ensure energy security in the country.

“Besides ensuring that Nigerians enjoy adequate supply of petroleum products close to their homes and at affordable prices, this initiative is also a means of creating jobs and boosting the economy to ensure that the lives of many Nigerians are touched in many positive ways,” he stated.

The ex-President said the Lagos-Ibadan Expressway, a major gateway between Lagos and other parts of the country, had continued to record increased vehicular traffic due to the improved condition of the road and the nation’s reinvigorated economy.

He said the station would ensure that thousands of motorists plying the road would enjoy year-round fuel supply.

The Group Managing Director, NNPC, Dr. Maikanti Baru, described Ogun as the only state with two mega stations.

http://investorsking.com/no-petrol-price-hike-supply-steady-nnpc/

When I read news like this, I know its the direct opposite. Meaning we should be ready for our annual and usual fuel scarcity

Truth234, I would have gone to my village shrine to swear for them if they had as much as hinted about any scarcity. Useless country

Oye0404:
When I read news like this, I know its the direct opposite. Meaning we should be ready for our annual and usual fuel scarcity

You got it man, you are the true son of your father!

Q

I hope so

Ok, THANK YOU, it's our right, not privilege.

Somebori tell this upgraded version of lie muham....to shut up!

Wow... Really?? Thank God.. Let me Start looking for 50 litres cans... That's one of the knowledge we get with experience...

I can't trust this set of people



I will design your website today
(0-8-1-3-0-7-6-7-3-5-7)

at almost 150, is it not expensive enough, pls don't start o, let's end this recession-filled year in peace

[color=#990000][/color]
Abeg go reduce d stuff jawe from 87 to 145

Instead unah go reduce

Its jus a subtle warning to start preparing 4 d worst

Pls hike it.Nonsense!Bunch of confused ignoramuses.

f

Onyl God can help us

Me each time such statements r made in times/ moments and in seasons like this......we know ur lying just that its annoying each time u lie over Nd over again thinking we r fools Nd that we believe u

When is Buhari going to reduce the pump price of PMS? When they wanted to increase in last yr, they said within 6months it'll start coming down, it's a yr & half nw, it's still at #145

Electricity tariff nko?

Oye0404:
When I read news like this, I know its the direct opposite. Meaning we should be ready for our annual and usual fuel scarcity

Is your name also Falz, the bad guy


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Last year was the first time there was no fuel scarcity in December in a long time. Hope they can maintain the momentum.

Haba we know better nah...

Nigerians can be wicked to each other. Typical 9ja. Already saw some rush for petrol two days ago .I come dey think say na jazz na in I con remember say Dec 1 na holiday. three weeks later na xmas. Always during holidays na im dey go wan punish us. nonsense. wickedness

I want to pay lower amounts for fuel...

But the only way we can do that
1.Deregulation: we have to get rid of subsidies
2.Refineries: we need more of them.
3.Public transport.

Fraudulent government.

israelmao:
Pls hike it.Nonsense!Bunch of confused ignoramus.

Indeed, a very confused ignoramus.


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cosmatika:
When is Buhari going to reduce the pump price of PMS? When they wanted to increase in last yr, they said within 6months it'll start coming down, it's a yr & half nw, it's still at #145

1.We are not earning enough forex to subsidize fuel to as low as #87
2.Refining capacity is still not enough, even when Dangote refinery comes on stream
3.Marketers earn more money, which enables them to easily pay for imports of fuel, and pay staff salaries.
4.Deregulation would in the long term crash prices, and even attract foreign investors. Problem is it means prices as high as 250 per liter in the short term, something that politicians don't love.

Lol

NNPC better respect themselve this xmas