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Don't Panic, FG Has No Plan To Increase Petrol Price - NNPC

The Nigerian National Petroleum Corporation (NNPC) has advised Nigerians not to engage in any panic buying of petroleum products.

Ndu Ughamadu, spokesman of the corporation, issued a statement late Wednesday to dismiss the report of a likely increase in the price of the products.

He said the corporation had a 1.3billion litres stock of premium motor spirit (PMS), otherwise called petrol, which is sufficient to serve the nation for more than 38 days.

“This plea comes on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government is about to increase the pump price of the white product from N145 per litre,” the statement read.

“NNPC wishes to assure Nigerians that there is no iota of truth in the rumour that government is scheduled to adjust pump price of petrol.

“Indeed, with the resumption of production by the Corporation’s three refineries in Kaduna, Port Harcourt and Warri, complemented by imports, there is enough stock of PMS, automotive gas oil (AGO), diesel and kerosene.”

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