Since yesterday evening when the news of increment of fuel price hit the nation, alleging that a liter of fuel is now N1200, there has been panic and tension nationwide, with many rushing to stockpile the product which is currently around N650 before the new price becomes effective.
It is against this backdrop that the Nigerian National Petroleum Company (NNPC) has issued the below statement:
PRESS RELEASE
No Increase in PMS Prices, NNPC Ltd. Assures Nigerians
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.
Olufemi O. Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja
03 January 2024.