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Gasoline: no increase in the ex-depot price in May – NNPC Gasoline



Gasoline: no increase in the ex-depot price in May – NNPC Gasoline

By Edith Ike-Eboh

The Nigerian National Petroleum Company (NNPC) said it would not increase the ex-depot price of Premium Motor gasoline, also known as gasoline, in May.

The group’s chief executive, Malam Mele Kyari, made it known after a closed-door meeting with the oil transport drivers (PTD), the National Association of Motor Carrier Owners (NARTO) and the oil traders in Abuja on Monday.

The ex-depot price is the price that traders buy products from the owners of depots; it determines the price at the gas station pump.

Meanwhile, the News Agency of Nigeria (NAN) reports that queues have resurfaced at most gas stations in the Federal Capital Territory with visibility of black traders along major highways.

“We want to inform the oil marketing companies that NNPC will not increase the price at the pump of PMS in May.

“I give assurance and I ask Nigerians to go about their normal business; we have over 20 billion liters of gasoline in our custody.

“Many of you are aware of this and with the reassurance of the tanker drivers and NUPENG, there is no need to panic to buy the product.

“The gasoline will be available at all depots across the country, including the NNPC depot across the country, so no one should panic while buying the product,” he said.

During the PTD strike, he said the strike was associated with NARTO’s inability to increase his pay, which was not resolved last week.

“We have made a commitment to both NARTO and PTD to resolve the issue within a week and come back to the table to have full closure on the matter.

“We also have a strong engagement with our petroleum marketing partners to increase the volume of controlled product in the Nigerian market.

“We have agreed to work jointly with all the security agencies to contain any violations observed at our borders.

“We will work as a team to curb this fraudulent practice with the help of security agencies,” he added.

He added that the meeting also discussed issues relating to payment by the Petroleum Equalization Fund (PEF) to petroleum marketing companies.

He said all stakeholders agreed to make the PMS available to marketers.

Alhaji Yusuf Orthman, President of NARTO, congratulated the NNPC for its intervention and assured that in the next seven days, things will normalize in the adjustment of PTD allowances.

“We asked them to bring three people to discuss the issues, but it wouldn’t have been possible without this intervention.

“We hope that in the next seven days things will normalize and I want to assure Nigerians that we are committed to this,” he said.

In addition, the president of PTD said the strike was suspended until the next seven days.

He commended the NNPC and all stakeholders for their rapid intervention.

“We believe that the conditions of service of tanker drivers and others must be improved and we believe that everything will be resolved as discussed,” he said. (NOPE)


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