No Plan To Increase Petrol Price To N1,200/Litre – NNPC

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The Nigerian National Petroleum Company (NNPC) Limited has debunked claims that there is a plan to increase the price of petrol soon.

Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, in a statement on Wednesday, said there is no imminent increase in the cost of the Premium Motor Spirit (PMS).

Media reports had said oil marketers disclosed that petrol should sell for N1,200/litre in a free market due to the depreciation of the naira and the cost of crude.

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

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“NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.

“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country,” Soneye said.

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