The Nigerian National Petroleum Corporation (NNPC) has warned petrol marketers against hoarding Premium Motor Spirit (petrol) in order not to create hardship for Nigerians.
In a press release on Thursday, Group General Manager, Group Public Affairs Division of NNPC, Dr. Kennie Obateru, said there is no plan to increase pump price of petrol in February.
While giving assurance that it has enough stock of petrol to keep the nation well supplied for about 40 days, NNPC called on relevant regulatory authorities to monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase of pump price.
It would be recalled that the nation’s downstream sector was deregulated in March 2020 with the Minister of State for Petroleum Resources, Chief Timipre Sylva, stating that the prices of petroleum products would be determined my prevailing market forces.
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