Home BUSINESS No Plan For Imminent Increment In Petrol Prices — NNPCL

No Plan For Imminent Increment In Petrol Prices — NNPCL

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No Plan For Imminent Increment In Petrol Prices — NNPCL
No Plan For Imminent Increment In Petrol Prices — NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) has stated that there is no plan for an imminent increase in the cost of Premium Motor Spirit (PMS) known as petrol.

A statement by Olufemi Soneye, the chief corporate communications officer of the company, cautioned motorists against panic-buying.

The statement read, “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.”

It had been reported on Monday that there were long queues in some filling stations in Lagos while residents of the city expressed fears that there might be a fresh scarcity of the product.

The long queues were noticeable at filling stations along the Ikorodu Road and Total Filling Station located at the Mobolaji Bank Anthony Way where the queues had led to traffic jams around the Ikeja axis of the state.

SaharaReporters had days ago reported that the NNPCL said the scarcity of fuel in some filling stations in some Nigerian cities, particularly in Lagos is caused by distribution issues.

It was gathered that NNPCL mega filling stations along the Lagos-Ibadan Expressway did not dispense fuel as of Monday evening.

On Tuesday morning, the NNPCL spokesperson, Femi Soneye, dismissed insinuations of fresh fuel scarcity, saying that the NNPCL did not have supply issues and that its products remained readily available.

Soneye, who added that the distribution issue in some areas had been resolved, was quoted as saying, “We are pleased to confirm that there are no supply issues, and our products remain readily available.

“The recent tightness experienced in certain areas was due to a brief distribution issue in Lagos, which has since been resolved.”

Also, the National Vice Chairman of the Independent Petroleum Marketers Association of Nigeria, Hammed Fashola, said he was aware of the queues in some filling stations in Lagos, but said the queues might be due to panic-buying on the part of customers.

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