There might be no hike within the present ex-depot value of Premium Motor Spirit (petrol) till the conclusion of ongoing engagement with organised labour and different stakeholders, the Nigerian Nationwide Petroleum Company (NNPC) introduced yesterday.
The Group Normal Supervisor, Group Public Affairs Division, Dr. Kennie Obateru, advised reporters in Abuja that the company was, for now, bearing the burden of importing refined petroleum merchandise because the provider of final resort to ensure power safety for the nation.
Shedding extra mild on the current interview by the Group Managing Director, Mallam Mele Kyari, on the State Home, Dr. Obateru said that the NNPC has no intention to preempt ongoing engagement with labour by unilaterally growing the ex-depot value of petrol, although the Company is bearing the burden of value differentials between the touchdown value and pump value of petrol.
He stated as a proactive organisation, NNPC has made preparations for sturdy inventory of petroleum merchandise in all its strategic depots throughout the nation to maintain the nation nicely equipped always.
He suggested petroleum merchandise entrepreneurs to not have interaction in arbitrary value improve or hoarding of petrol in order to not disrupt the market.
He additionally urged motorists to not have interaction in panic shopping for, stressing that NNPC was dedicated to making sure power safety for the nation because the provider of final resort.
Kyari had stated on Thursday stated the NNPC might now not bear the burden of underpriced gross sales of premium motor spirit (PMS), because it pays between N100-120 billion a month to maintain the pump value on the present ranges.
He stated: “The value might have been wherever between N211 and N234 to the litre. The that means of that is that customers should not paying for the complete worth of the PMS that we’re consuming and subsequently somebody is paying that value,” he stated.
“As we communicate at this time, the distinction is being carried within the books of NNPC and I can affirm to you that NNPC could now not be ready to hold that burden.”