NNPC Dispels Rumour On Planned Petrol Pump Price Hike

Posted by African Examiner Business News, Energy, Featured, Latest Headlines Thursday, January 19th, 2017

By Ganiyu Nasirudeen

ABUJA, NIGERIA (AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation (NNPC) has urged motorists in Abuja and its environs, as well as the entire country, not to engage in any panic buying of petroleum products.

The oil giant assured motorists that it has 1.3billion litres stock of PMS, otherwise called petrol, which is sufficient to serve the nation for over 38 days.

This plea came on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government is about to hike the pump price of the white product from N145 per litre.

Group General Manager, Group Public Affairs Division, Ndu Ughamadu NNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu restated that there is no iota of truth in the rumour that government was about to adjust pump price of petrol.

‘’Indeed, with the resumption of production by the Corporation’s three refineries in Kaduna, Port Harcourt and Warri, complemented by imports, there is enough stock of PMS, Automotive Gas Oil (AGO), diesel and kerosene’’.

NNPC Chief Operating Officer of the Refineries, Mr. Anibor Kragha disclosed this while briefing the Senate Committee on Petroleum Downstream in a presentation on the current status of the refineries at the National Assembly Complex in Abuja.

Kragha told the legislators that the nation’s three refineries produced additional volumes of 4.6 million litres of kerosene and 7.7 million litres of diesel, in addition to millions of litres of petrol being refined daily at the nation’s refineries.