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.
He advised Motorists nationwide against engaging in panic buying, saying there is presently ample availability of PMS across the country.
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.”
Soneye noted that NNPCL did not have supply issues, adding that its products remained readily available, as the distribution issue in some areas had been resolved.
There have been 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.
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