The Nigerian National Petroleum Company (NNPC) Limited has once again affirmed to the public that any immediate hike in the cost of Premium Motor Spirit (PMS), commonly known as petrol, is not on the horizon.
According to a press release signed by Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., Nigerians are urged to dismiss baseless rumors and can rest assured that there are no intentions for an upward revision of the PMS price.
In January of this year, there were speculations that NNPC was contemplating an increase in the petrol price to N1200 per litre, but the company swiftly debunked such claims. Despite this clarification, queues were recently observed at petrol stations in various parts of Nigeria, particularly in Lagos.
NNPC, in its statement on Thursday, emphasized that motorists nationwide should refrain from panic buying, emphasizing the current abundant availability of PMS across the country. The reassurance aims to allay concerns and ensure a stable fuel supply for the public.
News Source: Techeconomy
