• 430

    USD/NGN

No Fuel Price Hike In January - NNPC

No Fuel Price Hike In January - NNPC

Petrol price will not go up next month, the Nigeria National Petroleum Corporation (NNPC) said yesterday.

It urged Nigerians to desist from panic-buying because the Federal Government has made a budget provision for fuel subsidy in 2013.

NNPC spokesman Fidel Pepple said in Abuja that the NNPC’s vandalised Ije-ododo pipeline in Ojo Local Government of Lagos State had been repaired.

He said with the restoration of the pipeline and the System 2B pipeline, which was vandalised at Arepo in Ogun State, there would be no fuel scarcity or queues at the filling stations as the corporation has sufficient premium motor spirit (petrol).

The NNPC has carried out full restoration of the Ije-ododo pipeline, which is pumping premium motor spirit to depots and tank farms in the system 2B, spanning from Atlas-Cove to Ilorin.

Pepple said: “I can affirm to you that our engineers from the Pipelines and Products Marketing Company Limited (PPMC) have finally fixed the Ije-Ododo pipeline that was ruptured last Monday by activities of pipeline vandals. Going forward, the good news for Nigerians is that we have resumed pumping of petroleum products through the pipeline and System 2b is equally working after the restoration of the pipeline.”

He described media reports that fuel scarcity and queues in some parts of the country may last beyond the New Year as mischievous, noting that the corporation still maintains zero tolerance to fuel scarcity and fuel queues in filling stations. The recent fuel queues were basically due to the activities of pipeline vandals and the closure of some filling stations due to the Christmas holidays and not shortage of petroleum products.

The NNPC spokesman revealed that the corporation has product sufficiency that can sustain the country for more than a month.

Abuja and Lagos have been hit hard with fuel scarcity in the past one week, resulting in very long queues at the fuel retail outlets and increase in pump price at some stations.

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