The Nigerian National Petroleum Company Limited (NNPCL) has put to rest the fears of many Nigerians who were worried about a possible increase in the pump price of Premium Motor Spirit (PMS), also known as petrol.
In a statement issued on Wednesday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, assured the public that there was no truth to the rumours of a fuel price hike. He urged Nigerians to ignore the baseless speculations and remain calm.
He said, “NNPC Ltd assures the public that there is no imminent increase in the cost of Premium Motor Spirit, 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.”
The statement came as a relief to many Nigerians who were alarmed by the revelation of some oil marketers that the cost of petrol should be around N1,200/litre if it was not being subsidised, considering the cost of the commodity in other countries. How would such a price affect the lives of millions of Nigerians who depend on petrol for their daily activities?
But the NNPCL maintained that there was no more subsidy on the product, stressing that it was now recovering its full cost on the importation of PMS into Nigeria. NNPCL is the sole importer of petrol into Nigeria, and it has the responsibility of ensuring that the product is available and affordable for all Nigerians.