No Fuel Price Increment In February – NNPC Assures

Petrol Price To Hit N340 Next Year As FG Plans Complete Removal Of Subsidy

The Nigerian National Petroleum Corporation (NNPC), has foreclosed the possibility of an increment in the price of fuel before the end of February.

The Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru who disclosed this in a statement NNPC assured that despite the increase in crude oil price in the international market, the cost of fuel would not be increased in Nigeria.

According to Obateru: “In spite of the rise in the price of crude oil in the international market, the #NNPC has ruled out any increment in the ex-depot price of Premium Motor Spirit (petrol) in February, 2021.

“The decision was to allow ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship, to be concluded.”

Obateru appealed to petroleum marketers not to engage in hoarding of Premium Motor Spirit, also known as petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.

He noted that the Corporation has “enough stock of petrol to keep the nation well supplied for about 40 days.”


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