The Nigerian National Petroleum Company (NNPC) Limited has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.
The NNPCL, in a statement by its chief corporate communications officer, Olufemi Soneye, on Thursday, 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.”
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.
Oil marketers had expressed fears that there might be a scarcity of petrol if the NNPC 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 NNPC fail to sell enough petrol to distributors.
Long queues have since Monday resurfaced in different filling stations in Lagos State, causing traffic gridlock in Ikeja and other areas, as residents feared there might be a fresh scarcity of petrol.
