NNPC GMD Assures of Continuation of Fuel Subsidy Despite Soaring Crude Oil Prices
NNPC TOWERS
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, Monday assured Nigerians that the federal government will continue with the oil subsidy despite the rising crude oil prices in the international market.
Kyari said that there will be no increase in the ex- depot price of Premium Motor Spirit, Petrol in the month of May.
He said that this was even as the current market price of fuel has gone up to N234 per litre above the pump price of N163 per litre being sold currently.
The GMD spoke after a meeting with Petroleum Transport Drivers, PTD, National Association of Road Transporters Owners, NARTO, and oil marketers in Abuja.
He said, “We want to inform oil marketing companies that NNPC will not increase the pump price of PMS in May. I am giving the assurance and I ask Nigerians to go about their normal businesses; we have over 20 billion litres of petrol in our custody.
“Many of you are aware of this and with the assurance with tanker drivers and NUPENG, there is no need for panic buying of the product. Petrol will be available in all the depots in the country including NNPC dispatched depot across the country, so nobody should panic in buying the product.”
Kyari said that there will be no increase in the ex- depot price of Premium Motor Spirit, Petrol in the month of May.
He said that this was even as the current market price of fuel has gone up to N234 per litre above the pump price of N163 per litre being sold currently.
The GMD spoke after a meeting with Petroleum Transport Drivers, PTD, National Association of Road Transporters Owners, NARTO, and oil marketers in Abuja.
He said, “We want to inform oil marketing companies that NNPC will not increase the pump price of PMS in May. I am giving the assurance and I ask Nigerians to go about their normal businesses; we have over 20 billion litres of petrol in our custody.
“Many of you are aware of this and with the assurance with tanker drivers and NUPENG, there is no need for panic buying of the product. Petrol will be available in all the depots in the country including NNPC dispatched depot across the country, so nobody should panic in buying the product.”
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