In responding to rumours of a possible rise in fuel prices, the Nigerian National Petroleum Company (NNPC) Ltd. has assured Nigerians that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.
Olufemi Soneye, the chief corporate Communications Officer of NNPC Ltd., in a statement issued to Businessday on Wednesday, urged Nigerians to disregard unfounded rumours, adding that there are no plans for an upward review of fuel prices.
“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country,” it stated.
This is because the company denied claims of continued payment of subsidy on petrol.
“NNPC Ltd emphasizes it has not clashed with any party. The Punch headline is deemed unfortunate. The publication sought confirmation on alleged subsidy reduction, to which NNPC responded that subsidy had been entirely removed,” Soneye had said.