NNPC clears air on increase in petrol price, shortage of supply

increase in petrol price
NNPC clears air on increase in petrol price, shortage of supply

The Nigerian National Petroleum Corporation (NNPC) has cleared air on increase in petrol price, shortage of supply in the country.

NNPC has advised that the public should not be panic in buying Premium Motor Spirit, commonly known as petrol.

The NNPC said it was also not aware of any plan by the government to cause an increase in the pump price of petroleum.

A statement on Monday by Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC, in Abuja, said that the NNPC had over 1.7 billion litres of petrol in stock.

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According to Muhammad, more of the product is expected to arrive in the country daily over the coming weeks and months.

He said it was therefore unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond.

“The NNPC is also not aware of any plan by the government to cause an increase in the pump price of petroleum. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week.

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“In view of these assurances, therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country,” he said.

He noted that 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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