The Nigerian Nationwide Petroleum Company (NNPC) has cautioned motorists to cease panic shopping for of Premium Motor Spirit (PMS), often known as petrol, saying it has no plan to extend the ex-depot worth in March.
NNPC made this identified in a press release by its spokesman, Dr Kennie Obateru, in Abuja on Sunday.
Ex-depot worth is the value at which depot homeowners promote merchandise to entrepreneurs.
The value determines how a lot entrepreneurs will promote to motorists at their varied gasoline stations.
Obateru stated, “Opposite to speculations of an imminent enhance within the worth of PMS within the nation, the NNPC has dominated out any increment within the ex-depot worth of petrol in March.
“The company was not considering any rise within the worth of petrol in March so as to not jeopardize ongoing engagements with organized labour and different stakeholders on a suitable framework that won’t expose the peculiar Nigerian to any hardship.”
He additionally cautioned petroleum merchandise’ entrepreneurs to not interact in an arbitrary worth enhance or hoarding of petrol so as to not create synthetic shortage and pointless hardship for Nigerians.
He added that the company had sufficient inventory of petrol to maintain the nation properly provided for over 40 days and urged motorists to keep away from panic shopping for.