Published: Wed, December 06, 2017
Hi-Tech | By Ellis Neal

NNPC says no plan to increase fuel price

Dr. Maikanti Baru on Tuesday cut short his trip to London following the resurgence of fuel queues at filling stations in Abuja and some states.

However, the NNPC in a statement from its Group General Manager, Public Affairs, Mr. Ndu Ughamadu, reiterated that there was no need for the sudden return of queues at petrol stations across the country, stating that it had enough stocks.

IPMAN acussed the NNPC of breach of bulk purchase agreement to sell fuel to them at N133.28 per litre.

"If we add other costs to it, we can not sell at N145 per litre". We are hoping and believing that when they resume production, we will be able to get products from their and distribute to all our outlets, " he said.

He also attributed the queues to panic buying, while he added that the NNPC would continue to make efforts toward ensuring unhindered supply of petroleum products across the country.

He said the NNPC management had invited IPMAN Lagos branch to a meeting at the NNPC Towers on December 14.

-Baru reassures Nigerians that there is enough fuel to cater to their needs, hence citizens should not panic.

The Nigerian National Petroleum Corporation says there is no plan to increase prices at the ex-depot level and pump price ahead of the forthcoming yuletide.

N140; TechnoOil, N142; Shipet, N143; Nipco, N133.28 and all majors were selling to other marketers at N145 per litre as against N133 per litre.

It was a different story at Mosinmi depot which is controlled by the Nigerian Pipelines and Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), where fewer activities were noted.

"Right now, we are having a total shortage of products because we are not getting supply from our depots".

Fuel queues have since Monday surfaced across the country with the NNPC blaming it on panic buying.

"We are prepared and we have sufficient products that will last us to the end of the year and into next year".

A drive around Abuja metropolis showed that some of the petrol stations, which hitherto had idle pump attendants, now had queues to attend to.

The committee also said it has concluded arrangements to begin nationwide inspection of filling stations following fears of possible fuel scarcity.

It's a familiar sight, our streets and roads lined with vehicles waiting for their turn to buy fuel from filling stations.

Motorists and commuters in the capital city woke up on Tuesday to a stunning and unexpected scarcity of Petroleum Motor Spirit (PMS) ushering in a new dimension in the misery already being experienced by the people as a result of a depressed economy.

Marafa said the Senate would not watch some unpatriotic persons put Nigerians through any form of hardship, particularly during the yuletide.

The Department of Petroleum Resources (DPR), however, did not comment on the situation even as the price per litre went as high as N150 in some parts of the state.

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