The Nigerian National Petroleum Company (NNPC) Ltd. assures the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.
This was made known through a statement it issued Thursday evening in reaction to practical news of higher costs in the pump price of petroleum products, especially in Lagos in almost a week now.
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 called.
However, from the market, there is scarcity of the products that has forced many dealers to sell at just any rate outside what is stipulated by NNPC.