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NNPC Speaks On Increasing Petrol Price Next Month

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The Group Managing Director of the Nigerian Nationwide Petroleum Company, Mele Kyari, on Monday, disclosed that the value of petrol won’t be elevated in Might.

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NNPC has maintained an ex-depot value of N148/litre since February regardless of the rise within the value of petrol, therefore incurring a subsidy of over N120bn month-to-month.

Ex-depot value is the price of petrol at depots, from the place filling stations buy the commodity earlier than meting out to closing customers.

Kyari in his assertion additional acknowledged that Petroleum Tanker Drivers have suspended their proposed strike after the intervention of NNPC within the disagreement between the PTD and the Nationwide Affiliation of Street Transport Homeowners.

The NNPC in a put up on Twitter wrote, “Following GMD #NNPC Mallam @MKKyari’s intervention within the Nationwide Affiliation of Street Transport Homeowners/Petroleum Tanker Drivers deadlock, PTD has simply introduced the suspension of its deliberate strike till closure of dialogue between each events.”

“Additionally, the GMD introduced that there could be no enhance within the ex-depot value of Premium Motor Spirit within the month of Might 2021.”

In one other growth, the federal authorities of Nigeria has shed extra mild on what transpired between the central and state governors as regards the regards the allocation sharing for March 2021.

The Minister of Finance, Finances and Nationwide Planning, Zainab Ahmed disclosed that when it was found that there was a shortfall of N50 billion from the Federation Account Allocation Committee (FAAC), the state governors needed the federal authorities to borrow the shortfall from the Central Financial institution of Nigeria (CBN)

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