July 16, 2024

The Nigerian National Petroleum Corporation (NNPC) Ltd has rebutted speculations regarding an imminent rise in the prices of Premium Motor Spirit (PMS), colloquially referred to as petrol.

Recent difficulties faced by some motorists in accessing petrol at filling stations, coupled with concerns of potential price hikes, have led to the resurgence of long queues in various locations across Lagos State, causing traffic congestion.

However, in a statement released on Thursday, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, urged Nigerians to refrain from panic buying petrol.

“The Nigerian National Petroleum Corporation (NNPC) Ltd. affirms to the public that there are no immediate plans to increase the cost of Premium Motor Spirit (PMS),” the statement declared.

“NNPC Ltd. encourages Nigerians to disregard baseless rumors and assures them that there are no intentions to review the price of PMS upwards.

“Motorists nationwide are advised against participating in panic buying, as there is currently an abundant supply of PMS throughout the country.”

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