The Nigerian National Petroleum Company Limited (NNPCL) has again assured the public that it has no plan to increase the price of premium motor spirit (PMS), popularly known as petrol, in the market.
The spokesperson of the oil company, Olufemi Soneye, made this disclosure on Thursday in a press statement.
According to the statement, motorists are urged not to resort to panic purchasing, as the NNPCL has no immediate plans to increase the price of PMS.
Soneye also affirmed to the public that there is currently an abundant supply of PMS available across the country.
- “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,” the statement reads.
What you should know
- Earlier today, multiple media reports indicated heavy traffic gridlock in some parts of Lagos as motorists formed long queues outside the forecourts of filling stations over their inability to access fuel.
- The situation prompted some motorists to hike their fares, reflecting the challenges faced by commercial transport operators.
- Meanwhile, reacting to the situation, the NNPCL spokesperson, Mr Femi Soneye, dismissed insinuations of fresh fuel scarcity in an interview with the press.
- Soneye disclosed that the NNPCL did not have supply issues, saying its products remained readily available. He added that the distribution issue in some areas had been resolved.
- The oil firm also reiterated that there is no subsidy after reports that NNPC reduced the subsidy rather than complete removal.