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NNPC Speaks On Increment Of Petrol Price
- NNPC has spoken about the increment of petrol price in the country.
EKOHOTBLOG reports that the Nigerian National Petroleum Corporation (NNPC) has ruled out any hike in the pump price of Premium Motor Spirit (PMS), popularly known as petrol.
It, however, admitted that there are pricing issues at some petrol depots in the country.
An investigation had on Monday showed an increment in the price of the product by Private Depots from N148 per litre to N157 per litre across Nigeria.
The development, it was learnt, discouraged many marketers, especially the members of Independent Petroleum Marketers Association of Nigeria (IPMAN), who lift 90 per cent of their petrol from the depots, belonging to Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) members.
However, the Group Managing Director, NNPC, Mele Kyari, while speaking on the development said the corporation had adequate stock of petrol.
He made this known while delivering a presentation at a conference organised by energy correspondents in Lagos on Tuesday.
Kyari 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.
READ ALSO: Petrol Price Increased To N157 Per Litre
“Of course, there are issues about pricing at some depots but government has no plan to revise the pricing structure.”
He added that the NNPC’s objective is to provide energy security for Nigeria and ensure availability of petroleum products in the country.
Kyari, while speaking on ‘Petroleum Industry Act: Energy transition and the future of Nigeria’s oil and gas,’ further explained why Nigeria was demanding energy justice at the ongoing United Nations Climate Change Conference (COP26) in Glasgow, Scotland amid the global push for energy transition.
The Managing Director noted that the COP26 again highlighted the challenges faced by Nigeria and other African countries in the global energy transition.
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