Sunday, February 5, 2023

NNPC warns against panic buying, says FG not planning to increase fuel price

The corporation says it has over 1.7 billion litres of petrol in stock, with more expected soon.

• November 8, 2021

The Nigerian National Petroleum Corporation (NNPC) has advised against panic buying of petrol, saying the federal government does not plan to increase fuel price.

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

According to Mr 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 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.

According to him, NNPC was engaging all stakeholders for the smooth supply and distribution of products across the country during the festive season and beyond.

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Bandits and Former Chief of Army Staff Tukur Buratai

NationWide

Buhari has indeed subdued Boko Haram: Buratai

The former COAS said non-kinetic approaches were necessary to ensure total victory, including the deradicalisation of the terrorists.

Peter Obi Credit Lawrence Ewhrudjakpo

Politics

Cash Crunch: Peter Obi begs Nigerians to bear with Buhari regime

The Labour Party candidate threw his weight behind the currency redesign, saying that the exercise has long-term economic benefits.

An image Anambra Fire Service Truck

States

Anambra recorded 119 fire outbreaks in 2022: Official

The fire incidents were attributed to careless handling of fires and other inflammable materials.

Tukur Buratai, Bola Tinubu

Politics

Ex-army chief Buratai solicits support for Tinubu, APC

“The foundation laid in 2015 by President Muhammadu Buhari must be carried on,” Mr Buratai said.

Pervez Musharraf

World

Pakistan’s former president Pervez Musharraf is dead

Mr Musharraf died in a Dubai hospital after a prolonged illness, military sources confimed on Sunday.

Hot season

Health

Kano, Katsina govts express readiness to handle disease outbreak during hot season

Both government said they had set up committees on the outbreak of diseases, and had stocked their health facilities with drugs and vaccines.