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Like NNPC, IPMAN says no plan to increase fuel price, warns against panic buying



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Amid rumours of an impending scarcity and increase in the cost of Premium Motor Spirit (PMS) which has triggered panic buying amongst Nigerians, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned Nigerians against panic-buying and storing of petrol at home.

Okanlawon Olanrewaju, the Public Relations Officer of IPMAN, while making an appearance on Channels Television programme on Thursday clarified that fuel marketers have no intentions to raise fuel prices.

“As far as the independent marketers are concerned, we don’t have plans or plans to increase fuel pump price.

“There is no basis for that for now. There is no signal from NNPC that we should increase. So, we cannot do that on our own except NNPC comes out and says we are going to increase pump price. On our own, there is nothing like that.

“I want to use this opportunity to appeal to the public to stop panic buying. There is nothing like that (fuel price increment). It is just a rumour,” he said.

READ ALSO:NNPCL rules out fuel price hike, cautions against panic buying

Earlier, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye in a statement on Wednesday had assured Nigerians to disregard rumours of a possible hike in petrol prices.

The oil firm further urged motorists not to be involved in panic buying, as it stressed that the company had no plan to raise the cost of the product.

“NNPC Ltd assures the public that there is no imminent increase in the cost of Premium Motor Spirit, 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.

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