Fuel: NNPC Cautions Against Panic Buying, Says No Plan Increase

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

NNPC said, it has over 1.7 billion litres of petrol in stock and more product is expected to arrive into the country daily over the coming weeks and months.

TheFact Nigeria gathered that petroleum products marketers have been creating artificial scarcity in the Federal Capital Territory (FCT), Abuja with the hope that government will increase the pump price of fuel.

However, NNPC said, it was therefore unnecessary to entertain any fear of scarcity of petrol throghout the festive season and beyond.

The Group General Manager, Group Public Affairs Division, NNPC, Garba Deen Muhammad in a statement said, NNPC was also not aware of any plan by goverment 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.

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.

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