The Nigerian National Petroleum Company (NNPC) Ltd. on Wednesday ruled out an increment of Premium Motor Spirit (PMS), commonly known as petrol to N1,200 per litre.
NNPC Ltd., in a press release signed by Olufemi Soneye, its Chief Corporate Communications Officer, in Abuja assured the public that there is no imminent increase in the cost of petrol.
“NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price,” the statement said.
Soneye also advised motorists nationwide against engaging in panic buying, adding that “there is presently ample availability of PMS across the country.”
Nigerians on Wednesday woke up to the rumour of a planned increase in the pump price of petroleum products to N1,200 per litre.
The report has sent jitters among Nigerians amidst the hardship caused by the removal of subsidy on the product by President Bola Tinubu during his inauguration on May 29, 2023.
