The Nigerian National Petroleum Company Limited (NNPC) has said that it has no plans of increasing fuel price in the country.
NNPC spokesman Garba Deen Muhammad who released a statement to allay fear of scarcity of petrol throughout the festive season and beyond, stated that Nigerians need not panic over fuel scarcity as there are over 1.7 billion litres of petrol in stock.
“The general public is hereby advised not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol.
“The NNPC has over 1.7 billion litres of petrol in stock and more product is expected to arrive into the country daily over the coming weeks and months”
The NNPC also said it is not aware of any plan by government to cause an increase in the pump price of petroleum.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in its statement, also said;
“In view of these assurances therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country.
“The NNPC is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond.”