NNPCL, the Nigerian National Petroleum Company Limited, has explicitly stated that an immediate hike in the cost of Premium Motor Spirit (PMS), commonly known as petrol, is not on the horizon.
The company’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, issued a statement on Wednesday urging Nigerians to dismiss baseless speculations regarding an increase in petrol’s pump price.
Soneye reassured the public that there are no impending plans to revise the price of petrol upwards.
“Motorists nationwide are advised against engaging in panic buying as there is presently ample availability of petrol across the country,” he said.
Following reports circulating in certain sections of the media about fuel marketers affiliated with the Independent Petroleum Marketers Association of Nigeria (IPMAN) purportedly conflicting with NNPCL over subsidy payments, Soneye responded by clarifying that subsidy on petrol has been entirely eliminated.
He emphasized that there is no ongoing disagreement between the company and IPMAN regarding any subsidy payment concerning petrol, contrary to the alleged reports.
Echoing Soneye’s stance, Mr. Chinedu Okoronkwo, the IPMAN National President, dismissed rumors of any discord in a telephone interview with journalists, advising the public to disregard such unfounded news.
