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The Nigerian National Petroleum Company (NNPC) Ltd. in a statement has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.
This was revealed by NNPC Ltd spoke against the background of speculations that the price of petrol may be jacked up following the depreciation in the value of the naira.
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The speculation has led to fuel queues in some parts of the country where filling stations seemed to be hoarding the product.
But the Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, in a statement on Thursday, urged Nigerians to disregard unfounded rumours.
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Soneye assured the general public that there were no plans for an upward review of the price of PMS.
“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country,” he said. (NAN) (www.nannews.ng)