NNPC says no fuel price increase in March, cautions against hoarding, panic buying


Contrary to speculations of imminent increase price of Premium Motor Spirit (petrol) country, National Petroleum Corporation (NNPC) ruled out any increment ex-depot price of petrol in March, 2021.



A press release by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that the Corporation was not contemplating any raise the price of petrol March order not to jeopardize ongoing engagements with organized labour and other stakeholders an acceptable framework that will not expose the ordinary to any hardship.


NNPC also cautioned petroleum marketers not to engage arbitrary price increase or hoarding of petrol order not to create artificial scarcity and unnecessary hardship for Nigerians.

The Corporation stated that it enough stock of petrol to keep the nation well supplied for over 40 days and urged motorists to avoid panic buying.

It called relevant regulatory authorities to step of the activities of marketers with a view to sanctioning those involved in hoarding or arbitrary increase of pump price.