NNPCL rules out hike in petrol price, cautions against panic-buying

The Nigerian National Petroleum Company (NNPC) Limited has ruled out an increase in the pump prices of Premium Motor Spirit (PMS) also known as petrol.

The company’s clarification followed the reappearance of long queues in different filling stations in Lagos State and other parts of the country.

In a statement issued on Thursday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, assured Nigerians there was no immediate plan to increase product price by the company.

He also advised Nigerians against panic-buying of petrol.

READ ALSO: NNPCL denies plans to hike petrol price

The statement read: “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.”

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