The Nigerian National Petroleum Company Limited (NNPCL) has insisted there are no plans to increase the cost of Premium Motor Spirit, known as petrol.
This was made known in a statement signed by its Chief Corporate Communications Officer, Olufemi Soneye,
NNPCL urged Nigerians against panic buying of petrol.
The statement read, “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.”
Oil marketers expressed fears that there might be a scarcity of petrol if the NNPCL fails to make the product available to depot owners and other dealers.
They said the long queues being experienced in filling stations and some parts of Ogun State might eventually spread to other parts of the nation should the NNPCL fail to sell enough petrol to distributors.
Long queues have since Monday resurfaced in different filling stations in Lagos State, causing traffic gridlock in Ikeja and other areas, as residents feared there might be a fresh scarcity of petrol.