FEDERAL GOVERNMENT THROUGH (NNPC) HAS DENIED PLANS TO HIKE FUEL PRICE FROM FEBRUARY.
The federal government through the Nigerian National Petroleum Corporation (NNPC) has denied plans to increase fuel price from February.
Speculations that the prices of petroleum products may go up next month as many filling stations sell petrol above the official price of N162 per litre.
Dr. Kennie Obateru, NNPC Group General Manager, Group Public Affairs Division, told The Nation on phone there was no imminent upward review of the petrol price.
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”.
He said, “NNPC has a stock of petrol that can last over 40 days.”He allayed fears of scarcity of the product.
Obateru urged the Department of Petroleum Resources (DPR) to clampdown on the marketers hoarding petrol.
“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,” he said.
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