NNPC Says No Hike In Petrol Price In May

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Gas pump with a drop of gasoline fuel.

 

 

 

The Nigerian National Petroleum Corporation(NNPC) has said  that there would be no increase in the ex-depot price of Premium Motor Spirit, popularly called petrol in May this year.

Ex-depot price is the cost of petrol at depots, from where filling stations purchase the commodity before dispensing to final consumers.

NNPC which is the sole importer of petrol into Nigeria for more than three years now has maintained an ex-depot price of N148/litre since February despite the hike in the actual cost of the commodity.

It also announced through its Group Managing Director , on Monday that Petroleum Tanker Drivers had suspended their proposed strike after the intervention of NNPC in the impasse between the PTD and the National Association of Road Transport Owners.

The NNPC tweeted the information via its official Twitter handle on Monday.

It said, “ the GMD announced that there would be no increase in the ex-depot price of Premium Motor Spirit in the month of May 2021.”

NNPC also stated that “Following GMD #NNPC Mallam @MKKyari’s intervention in the National Association of Road Transport Owners/Petroleum Tanker Drivers impasse, PTD has just announced the suspension of its planned strike until closure of discussion between both parties.

In March, the NNPC said it would maintain its ex-depot price for petrol until the conclusion of ongoing engagement with the organised labour and other stakeholders.