The Nigerian National Petroleum Company Limited (NNPCL) has on Thursday refuted any intentions to raise the price of Premium Motor Spirit, commonly known as petrol. In a statement issued by the Chief Corporate Communications Officer, Olufemi Soneye, the NNPCL urged Nigerians to dismiss baseless rumors and assured them that there were no impending plans for an upward adjustment of the PMS price.

The statement emphasized, “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.”

Despite concerns raised by oil marketers about potential petrol scarcity if the NNPCL fails to supply the product to depot owners and other dealers, the NNPCL emphasized that there was no need for panic buying, as there was sufficient PMS available nationwide. The resurgence of long queues in filling stations in Lagos State since Monday has led to traffic congestion in areas like Ikeja, triggering fears of a possible fuel scarcity.

However, in response to these concerns, Soneye reassured the public that the NNPCL did not face any supply issues, and its products remained readily accessible. He clarified that the brief distribution issue experienced in certain areas, particularly in Lagos, had already been resolved. Soneye concluded, “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.

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