The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that there will be no increase in the price of Premium Motor Spirit (PMS) also known as Petrol in the month of February.
The corporation gave the assurance in a statement signed by its spokesman Dr Kennie Obateru in Abuja.
“In spite of the rise in the price of crude oil in the international market, NNPC has ruled out any increment in the ex-depot price of PMS in February 2021,” the statement said
It urged petroleum products, marketers, not to engage in the hoarding of PMS in order not to create artificial scarcity and unnecessary hardship for Nigerians.
The statement further gave assurance that the corporation had enough stockpile of petrol to keep the nation well supplied for about 40 days.
It also called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase of pump price.