The Nigerian National Petroleum Corporation (NNPC) has said the price of Premium Motor Spirit (PMS), popularly known as petrol or fuel, will not be increased in May.
Mele Kyari, the Group Managing Director of the NNPC, announced this on Monday, according to the corporation in a series of posts on its Twitter handle.
NNPC, the sole importer of petrol into Nigeria for more than three years, has maintained an ex-depot price of N148/litre since February despite the hike in the actual cost of the commodity.
Ex-depot price is the cost of petrol at depots, from where filling stations purchase the commodity before dispensing it to the final consumers.
Kyari also announced that Petroleum Tanker Drivers (PTD) had suspended their proposed strike after the NNPC intervened in the impasse between the drivers and the National Association of Road Transport Owners (NARTO).
Also, the GMD announced that there would be no increase in the ex-depot price of Premium Motor Spirit (PMS) in the month of May 2021.
— NNPC Group (@NNPCgroup) April 19, 2021