No Plans To Increase Petrol Price, NNPCL Assures Nigerians
By Caleb Owaise
The Nigerian National Petroleum Company Limited (NNPCL) has reiterated its commitment to maintaining stable fuel prices, assuring the public that there are no plans to increase the price of premium motor spirit (PMS), commonly known as petrol.
In a press statement issued by NNPCL spokesperson Olufemi Soneye on Thursday, the company urged motorists not to engage in panic buying, emphasizing that there is currently an abundant supply of PMS across the country.
“The Nigerian National Petroleum Company (NNPC) Ltd. assures the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol,” stated Soneye. “NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.”
Earlier today, reports surfaced of heavy traffic gridlock in parts of Lagos, with motorists forming long queues outside filling stations due to difficulties in accessing fuel. Some commercial transport operators were forced to hike fares in response to the situation.
However, in an interview with the press, NNPCL spokesperson Femi Soneye dismissed insinuations of fresh fuel scarcity, stating that the company did not face supply issues. He assured the public that distribution challenges in certain areas had been resolved, ensuring continued availability of fuel products.
Furthermore, the NNPCL clarified its position on fuel subsidy, following reports of a reduction rather than complete removal. The oil firm emphasized that there is no subsidy in place, contrary to speculation in the media.
As uncertainties persist, the NNPCL’s assurance comes as a relief to many Nigerians, providing reassurance amidst concerns over potential fuel shortages and price hikes.