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NNPCL’s Position on Intended Fuel Price Increase

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The Nigerian National Petroleum Company Limited (NNPCL) has declared that there are no impending plans to raise the price of Premium Motor Spirit, commonly known as petrol.

In a statement signed by Olufemi Soneye, the Chief Corporate Communications Officer, the NNPCL emphasized their stance.

Urging Nigerians to refrain from panic buying of petrol, the NNPCL stated, “NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.”

They also advised motorists across the nation against succumbing to panic buying, citing the current abundant availability of PMS nationwide.

Concerns have been raised by oil marketers regarding a potential petrol scarcity if the NNPCL does not adequately supply the product to depot owners and other dealers.

They expressed that the persistent long queues at filling stations and in certain parts of Ogun State could potentially spread to other parts of the country if the NNPCL does not distribute enough petrol to dealers.

From Monday onwards, long queues have reemerged at various filling stations in Lagos State, leading to traffic congestion in Ikeja and surrounding areas due to concerns about a possible fuel scarcity.

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