THE Nigerian National Petroleum Corporation (NNPC) said on Friday that it would maintain its current ex-depot price of petrol until the conclusion of the ongoing engagement between government, organised labour and other stakeholders.
A statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr Kennie Obateru, said the Corporation will in the interim still bear the burden of importing refined petroleum products as the supplier of last resort to guarantee energy security for the nation.
Shedding more light on Thursday’s engagement with journalists by the Group Managing Director, Mallam Mele Kyari, at the State House, Dr Obateru stated that the NNPC has no intention to pre-empt ongoing engagement with labour by unilaterally increasing the ex-depot price of petrol, even though the Corporation is bearing the burden of price differentials between the landing cost and pump price of petrol.
He said 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.
Dr Obateru advised petroleum products marketers not to engage in arbitrary price increase or hoarding of petrol so as not to disrupt the market.
He also urged motorists not to engage in panic-buying; stressing that NNPC was committed to ensuring energy security for the country as the supplier of last resort.
Obateru assured marketers and all other relevant stakeholders in the downstream sector of sustainable collaboration for the public interest.