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