NNPC Rules Out Fuel Price Increase In May
Nigerians had expected an increase of the pump price of petrol prompting queues in some filling stations around the Federal Capital Territory with black marketers along the major highways.
The Group Managing Director, Mele Kyari at the end of a closed door meeting with Petroleum Transport Drivers (PTD), National Association of Road Transporters Owners (NARTO) and oil marketers in Abuja on Monday however dispelled such fear.
Ex-depot price is the price marketers buy products from depot owners; it determines the pump price at filling stations.
“We want to inform oil marketing companies tthat NNPC will not increase the pump price of PMS in May.
“I am giving the assurance and I ask Nigerians to go about their normal businesses; we have over 20 billion litres of petrol in our custody.
“Petrol will be available in all the depots in the country including NNPC dispatched depot across the country, so nobody should panic in buying the product,” he said.
On the strike by PTD, he said the strike was associated with NARTO’s inability to increase their compensation which was not resolved last week.
“We have given commitment to both NARTO and PTD that we will resolve the issue within a week and come back to the table to have a total closure on the issue.
We also have a robust engagement with our oil marketing partners in respect of increase in the volume product that is check in the Nigerian market.
“We have agreed to work jointly with all the security agencies to contain any possible infractions seen in our borders.
“We will work as a team to curtail this fraudulent practice with the help of the security agencies,” he added.
He added that the meeting also discussed issues on payment by Petroleum Equalisation Fund (PEF) to oil marketing companies.
He said that all stakeholders agreed in making PMS available to marketers.
Alhaji Yusuf Orthman, NARTO President, commended the NNPC for the intervention and assured that within the next seven days, things will normalise in the adjustment of allowances of PTD.
“We have requested that they bring three persons so that we discuss the issues but that would not have been possible without this intervention.
We hope that within the next seven days things will normalise and I want to assure Nigerians that we are committed to it,” he said.
Also, PTD president said that the strike has been suspended until the next seven days
He commended the NNPC and all the stakeholders for their quick intervention.