31 December 2012

Nigeria: No Petrol Price Increase in 2013 - Govt

Federal government will not increase the pump price of fuel in January, the Nigerian National Petroleum Corporation (NNPC) has said.

Acting spokesman of the corporation, Mr. Fidel Pepple, who disclosed this while talking with journalists in Abuja at the weekend, said there is no basis for adjustment in the pump price of fuel since the federal government has made budgetary provision for fuel subsidy in the 2013 budget which was recently passed by the National Assembly.

He advised motorists in the country to desist from panic buying of fuel.

According to him, the corporation has sufficient product that can sustain the country for more than a month, stressing that concerted efforts by the NNPC to wet every part of the country with petrol to ease the movement of people as they travel from one place to the other before and after the New Year, will be sustained.

Mr. Pepple also called on marketers to avoid the diversion of petroleum products to black marketers, adding that stringent punitive actions would be meted out to those found wanting.

He enjoined marketers of petroleum products to team up with the NNPC to ensure sustained supply and distribution of petroleum products into the New Year.

Pepple further said that the Nigerian National Petroleum Corporation has concluded full and comprehensive restoration of the Ije-Ododo pipeline in Lagos which was recently gutted by fire.

He said pumping of petrol has resumed in earnest to depots and tank farms in the system 2B, spanning from Atlas-Cove to Ilorin.

He assured Nigerians and motorists that with the restoration of the Ije-Ododo pipeline and the NNPC system 2B pipeline, normalcy has been restored in the supply and distribution of petroleum products across the country.

He said: "I can affirm to you that our engineers from the Pipelines and Products Marketing Company Limited 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."

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