The Nigerian National Petroleum Company Limited (NNPCL) has stated that there are no plans to increase the cost of Premium Motor Spirit (PMS), commonly known as petrol.
The clarification came in response to recent rumours suggesting that there will be a potential upward review of petrol prices in the country.
In a statement issued by the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, Nigerians were urged to disregard the unfounded rumours and advised against panic buying of petrol.
The statement said that there is presently ample availability of PMS across the country.
Oil marketers had previously expressed concerns about a possible scarcity of petrol if NNPCL did not make the product available to depot owners and other dealers.
The fear was that the long queues observed at filling stations in some parts of Ogun State might spread to other regions if there was insufficient supply from NNPCL.
Despite the reassurance from NNPCL, long queues have been reported at various filling stations in Lagos State since Monday, causing traffic congestion in Ikeja and surrounding areas.
However, Soneye had earlier dismissed the notion of an imminent fuel scarcity, stating that NNPCL did not face any supply issues, and the distribution problems in certain areas had already been resolved.
“We are pleased to confirm that there are no supply issues and our products remain readily available.
“The recent tightness experienced in certain areas was due to a brief distribution issue in Lagos, which has since been resolved,” Soneye said.
