NNPC Reassures No Imminent Increase in Petrol Price, Urges Against Panic Buying

 NNPC Reassures No Imminent Increase in Petrol Price, Urges Against Panic Buying

The Nigerian National Petroleum Company Limited (NNPCL) has reiterated that there is no immediate plan to increase the price of Premium Motor Spirit (PMS), commonly known as petrol. The spokesperson of NNPC, Olufemi Soneye, urged the public to disregard unfounded rumors and advised against panic buying, stating that there is an ample supply of petrol across the country.

Key Points:

1. Reassurance from NNPC: The NNPC spokesperson, Olufemi Soneye, affirmed that there is no imminent increase in the cost of petrol (PMS). The NNPC urged Nigerians to disregard rumors and assured them that there are no plans for an upward review of the PMS price.

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3. Abundant Supply: The NNPC assured the public that there is currently ample availability of petrol across the country. Motorists are advised against panic buying.

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5. Traffic Gridlock and Panic Buying: Earlier reports highlighted heavy traffic gridlock in some parts of Lagos, with motorists forming long queues outside filling stations due to difficulties accessing fuel. The situation led to increased fares for commercial transport operators.

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7. Distribution Issues Resolved: The NNPC spokesperson mentioned that the distribution issue in some areas had been resolved, and the company did not face supply issues. The statement aims to address concerns about fuel scarcity.

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9. Subsidy Clarification: The NNPC reiterated that there is no subsidy, responding to reports that the subsidy was reduced rather than completely removed.

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11. Public Awareness: The NNPC's statement is intended to create awareness among the public, reassuring them about the availability of petrol and discouraging panic buying.

The NNPC's communication aims to alleviate concerns and prevent panic in response to rumors of a potential petrol price increase. It emphasizes the availability of fuel and addresses the challenges faced by motorists in some areas. It also clarifies the status of the subsidy, emphasizing the stability of petrol prices for the time being.