NNPC Reacts to FG's Alleged Plan to Increase Petrol Price

Posted by Thandiubani on Mon 08th Nov, 2021 - tori.ng

NNPC has reacted to alleged plan by the federal government to increase petrol price.

The Nigerian National Petroleum Corporation (NNPC) has has broken its silence following alleged reports that the federal government is contemplating increase in the price of fuel.

NNPC warned Nigerains against panic buying saying it is 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.

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.

“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.