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Panic Buying: No plan to increase fuel price, we’ve 1.7bn litres in stock — NNPC

The Nigerian National Petroleum Corporation (NNPC) has advised the public not to engage in panic buying of Premium Motor Spirit, commonly known as petrol.

The NNPC said it was also not aware of any plan by government to cause an increase in the pump price of petroleum.

A statement on Monday by Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC, in Abuja, said that the NNPC had over 1.7 billion litres of petrol in stock.

According to Muhammad, more of the product is expected to arrive into the country daily over the coming weeks and months.

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He said it was therefore unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond.

“The NNPC is also not aware of any plan by government to cause an increase in the pump price of petroleum. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week.

“In view of these assurances therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country,” he said.

According to him, the NNPC is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond.

NewsWireNGR Latest News in Nigeria

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