The Nigerian National Petroleum Company (NNPC) Ltd has denied any imminent increase in the pump prices of Premium Motor Spirit (PMS), popularly known as petrol.
Long queues have since Monday resurfaced in different filling stations in Lagos State and environs, amid fears of imminent hike in the pump price of the essential commodity.
But in a statement on Thursday, Olufemi Soneye, NNPCL’s Chief Corporate Communications Officer, assured the public that there is no plan to increase the cost of PMS and cautioned Nigerians against panic buying.
The statement read, “NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.”
NNPC Ltd. urged Nigerians to disregard unfounded rumours and assured them that there are no plans for an upward review of the PMS price.
“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country,” it added.
Petroleum products marketers had expressed fears that there might be a scarcity of petrol should the NNPC fails to make the product available to depot owners and other dealers.
Below is the full text of NNPCL’s statement:
Press Release
No Increase in PMS Prices, NNPC Ltd. Assures Nigerians
The Nigerian National Petroleum Company (NNPC) Ltd. assures the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.
NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.
Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country.
Olufemi O. Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja
08 February 2024