The Nigerian National Petroleum Company Limited (NNPCL) has provided assurances to Nigerians, emphasizing that there are no intentions to increase the fuel price.
Addressing reports suggesting a potential fuel price of N1,200 based on market realities, NNPCL, through its Chief Corporate Communications Officer, Olufemi Soneye, urged the public to dismiss unfounded claims.
NNPCL further urged motorists nationwide to avoid panic buying, reassuring them that there is an ample supply of petroleum products across the country.
In a statement, NNPCL stated, “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.”
Notably, recent reports from Punch Newspaper highlighted a disagreement between NNPCL and fuel marketers over the fuel subsidy removal, with oil marketers suggesting a potential N1,200/litre price in a free market due to the naira’s depreciation against the US dollar and fluctuating crude oil prices.
Ada Peter
