NNPCL warns against panic buying, rules out fuel price hike

The Nigerian National Petroleum Company (NNPC) Limited has warned Nigerians against panic buying of Premium Motor Spirit (PMS) popularly called petrol.

In a statement issued on Thursday by its Chief Corporate Communication Officer, Femi Soneye, the company assured Nigerians that the prices of petroleum products are not changing.

The NNPC said the limited availability of petrol in certain regions of the country was a result of logistical problems that have been resolved.

READ ALSO: Tinubu rules out new fuel price hike in Nigeria

The statement read: “The Nigerian National Petroleum Company Limited (NNPC Ltd.) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved.

“It also wishes to reiterate that the prices of petroleum products are not changing.

“It urges Nigerians to avoid panic buying as there is a sufficiency of products in the country.”

The NNPC on March 24 denied adjusting the pump price of petrol across its retail outlets.

By: Babajide Okeowo

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