No plans to hike price in February- NNPC

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The Nigerian National Petroleum Corporation (NNPC) has denied plans to increase fuel price from February.

There had been speculations the prices of petroleum products may go up next month as many filling stations sell petrol above the official N162 per litre.

But NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, told The Nation on phone there was no imminent upward review of the petrol price.

He said: “NNPC has not increased its ex-depot price. I am certain that NNPC is not likely to increase its ex-depot price in February”.

According to him, NNPC has a stock of petrol that can last over 40 days.

He allayed fears of scarcity of the product.

Obateru urged the Department of Petroleum Resources (DPR) to clampdown on the marketers hoarding petrol.

“We have sufficiency for almost forty something days. If people are hoarding or increasing their prices that one is for the DPR to look into,” he said.

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