The Nigerian National Petroleum Company (NNPC) Ltd. has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.

This is on the backdrop of queues seen at different fuel stations across the country, especially in Lagos, Ogun, Edo and Delta State.

Read also: No increase in fuel prices, NNPCL assures Nigerians

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However, the state-owned oil company in a statement signed by Femi Soneye, chief corporate communications officer of the NNPC urged Nigerians to disregard unfounded rumours and assure 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,” the statement read.

Faith Esifiho is an Energy correspondent at BusinessDay, covering Nigeria's electricity sector, oil and gas industry, and energy policy. She reports on power outages, electricity tariffs, gas sector reforms, and the broader challenges facing the country's energy transition. She specializes in data-led reporting and human-angle stories that examine how energy policies affect everyday Nigerians and also tracks trends in the power sector, analyses regulatory changes, and investigates the impact of subsidy reforms and pricing policies.

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