NNPC to flood market with 2bn litres of petrol every month, from May

The Nigerian National Petroleum Corporation (NNPC) has said 2 billion barrels of Premium Motor Spirit (PMS), otherwise known as petrol, will be added to its stock across the country with effect from May.

This was disclosed by the Group Managing Director of the Corporation, Dr. Maikanti Baru during an award presentation to him on Leadership Innovation and Repositioning from the Road Transport Employers Association of Nigeria (RTEAN) in Abuja on Tuesday.

A statement by the NNPC spokesman, Mr. Ndu Ughamadu, said Baru was represented by the Managing Director of Petroleum Products Marketing Company (PPMC), a subsidiary of NNPC.

The move, according to the statement, was to sustain the present seamless supply of petrol across the country.

Read also: FG set to release new gas policy to lower prices for manufacturing sector

He maintained that the price of the product remained at N145 per litre while urging RETEAN not to allow their members to be shortchanged and report any marketer who contravenes the law to the Department of Petroleum Resources (DPR).

He added that the Corporation had embarked on the revamp of its refineries which began with the Port Harcourt Refining Company, PHRC, in order to reduce the importation of petroleum products in the country.

In his remarks, the National President of RTEAN, Comrade Osakpawan Eriyo, said, “any initiative by the NNPC to restore sanity to the Industry and we will be with you to fish out every unscrupulous element in the system.”

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