The Nigerian National Petroleum Company Limited (NNPCL) says there is no imminent increase in the cost of Premium Motor Spirit (PMS) commonly known as petrol.
Some Nigerians had expressed fear following the revelation by oil marketers that the cost of petrol should be around N1,200/litre if it was not being subsidised.
But in a statement by its Chief Corporate Communications Officer, Olufemi Soneye, on Wednesday, NNPCL called on Nigerians to disregard unfounded rumours of increase in the pump price of petrol.
Soneye assured the public that there were no plans for an upward review of the price of petrol.
The oil firm further urged motorists not to be involved in panic buying, as it stressed that the company had no plan to raise the cost of the product.
The statement read: “NNPC Ltd assures the public that there is no imminent increase in the cost of Premium Motor Spirit, commonly known as petrol.
“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.”
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