The Nigerian National Petroleum Company Limited on Thursday said it was not planning to increase the cost of Premium Motor Spirit, known as petrol.
The NNPCL in a statement by its Chief Corporate Communications Officer, Olufemi Soneye, urged Nigerians against panic buying of petrol.
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.
“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country.”
The reports that oil marketers expressed fears that there might be a scarcity of petrol if the NNPCL fails to make the product available to depot owners and other dealers.
They said the long queues being experienced in filling stations and some parts of Ogun State might eventually spread to other parts of the nation should the NNPCL fail to sell enough petrol to distributors.
“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,” 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.
“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country.”
