NNPC allays fear of fuel price increase * Cautions motorists against panic buying

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NNPC allays fear of fuel price increase

* Cautions motorists against panic buying

* Says NNPC has over 1.7 billion litres of petrol in stock

The Nigerian National Petroleum Corporation (NNPC), has cleared the air on speculation going on in the country about plans to increase price of Premium Motor Spirit (PMS), commonly known as petrol, saying no plans to hike petrol pump price this Yuletide period.

The Corporation also cautioned motorists against panic buying of the product,
saying consumers should maintain normal and regular pattern of getting petrol from filling stations without creating a panic situation capable of sending a wrong signal across the country.

The NNPC spokesman, Garba Deen Muhammad, revealed that the Corporation has over 1.7 billion litres of petrol in the country, even as more product is expected to come into the country.

He informed that NNPC is working in line with its guidelines and commitment to ensure the country has sufficient product, in order to prevent scarcity that can result to long queues at fuel outlets.

Going further, Muhammad gave assurance that the Federal Government has no plans to increase fuel price. He described the claim in some quarters about government planning to increase fuel price this Yuletide season as false alarm.

According to him; the Corporation is working tirelessly with relevant stakeholders to ensure sufficient fuel supply for Nigerians, even in rural communities and remote areas, to enable the citizens enjoy the festive period.

He assured :
” NNPC is also engaging all relevant stakeholders to ensure sufficient distribution of petroleum products across every part of Nigeria during the festive season and beyond.

“ NNPC is not aware of plans by goverment to increase fuel pump price. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), made that declaration just last week.

“So, it is unnecessary to entertain fear of fuel scarcity during the Yuletide season”.

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