Breaking News

No Increase in Price of Fuel Till After Negotiation With Labour - NNPC


The Nigeria National Petroleum Corporation (NNPC),  has maintained that they will be no Increase in fuel price till after it negotiates with organized labour. 

The group public affairs division of NNPC, Kennie Obateru, disclosed this in a statement released on Friday, March 26.

Mele Kyari, the group managing director of NNPC recently announced that the NNPC can no longer pay for he cost of subsidy and can no longer bear the burden of under priced sales of petrol, stating that the market price needs to be implemente, noti g that the NNPC pays between N100-N120billion a month to keep the pump price at this period.

Obateri says that the current price will be maintained at N162 until the ongoing negotiation with organized labour and other stake holders are concluded.

He aslo  stated that the NNPC  has made arrangements for robust stock of petroleum products in all its strategic depots across the country to keep the nation well supplied at all times.

He urged petroleum product marketers to desist from arbitrary price increase or hoarding of petrol.

The spokesman also warned against panic buying, stressing that NNPC was committed to ensuring energy security.

No comments