- The Nigerian National Petroleum Company Ltd has assured Nigerians there is no increase in fuel price
- This is amid long queues experienced by motorists and individuals seeking to buy fuel at filling stations
- The company advised motorists to disengage from panic buying as fuel is available across the country
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
The Nigerian National Petroleum Company (NNPC) Ltd. has opened up on a reported plan to hike the cost of fuel in the country.
In a press statement signed by Olufemi O. Soneye, its chief corporate communications officer, on its X page, it assured that there is no increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.
“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.
“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.”
This comes after long queues were noticed in some filling stations on Monday, February 6, as petrol scarcity resumed across some parts of the country.
Long lines of cars formed at the pumps of the handful open to the public. Most stations that dispensed gasoline had a single pump, which made the lines longer.
Some NNPCL station managers said that the pressure on NNPCL's supply is the direct cause of the gasoline shortfall at their stations.
They clarified that most, if not all, marketers now rely on the company for petrol supply since it gives the most competitive ex-distribution price for the commodity.
Marketers speak as fuel scarcity
Legit.ng reported that oil marketers have expressed fears that petrol may be scarce if the NNPCL does not make petrol available to depot owners and other dealers soon.
The marketers said the long queues at the filling stations in Lagos and parts of Ogun state may spread to other parts of the country if the national oil firm needs to act faster.
Residents of Lagos and parts of Ogun states began to witness queues at different petrol stations on Tuesday, February 6, 2024, which caused traffic in some areas.
PAY ATTENTION: Donate to Legit Charity on Patreon. Your support matters!