No Imminent Hike In Prices Of PMS, NNPC Ltd Assures

The Nigerian National Petroleum Company (NNPC) Limited has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.

This was contained in a statement issued by the Chief Corporate Communications Officer of the National Oil Company, Mr. Olufemi Soneye on Wednesday.

TheFact Daily had reported that the oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN), on Tuesday disclosed that subsidy on petrol was increasing considering the crash of the naira against the United States dollar and the cost of crude oil, stressing that PMS should sell for N1,200/litre in a free market.

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Meanwhile, NNPC Ltd. urged Nigerians to disregard such unfounded rumours and assured them that there were no plans for an upward review of the PMS price.

It, therefore, advised motorists nationwide not to engage in panic buying, as there is presently ample availability of PMS across the country.

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