The Nigerian National Petroleum Company Limited (NNPC) has allayed the fears of Nigerians on suspected increase in the pump price of petrol.
It also advised that there is enough petrol for the festive season and advised the public to expect more products from overseas.
In a statement signed by the NNPC spokesman, Garba Deen Muhammed, NNPC said that there are over 1.7 billion litres of fuel currently in stock.
He added that it is not necessary to entertain fears of scarcity throughout the festive season as the country has a huge reserve and is still expecting more in the coming days.and weeks.
According to Muhammed, “The general public is hereby advised not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol.
“The NNPC has over 1.7 billion litres of petrol in stock and more product is expected to arrive into the country daily over the coming week and months,” the petroleum body said in a statement on Monday.
The NNPC also dismissed speculations of plans by the Federal Government to increase the price of petrol.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), last week, had urged motorists not to engage in panic buying.
It stated that, “In view of these assurances therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of 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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