No plan to increase fuel price in February — NNPC

The Nigerian National Petroleum Corporation (NNPC) has denied plans of increasing fuel price from February.

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NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru who reacted to speculation of petrol selling above the official N162 per litre, told The Nation that there was no imminent upward review. 

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Obateru also allayed fears of scarcity of the product by saying that NNPC has a stock of petrol that can last over 40 days. He further urged the Department of Petroleum Resources (DPR) to clampdown on the marketers hoarding petrol.

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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.

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“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."