NNPC says no plan to increase pump price of petrol

• Urges Nigerians to stop panic buying of petroleum products

Nigerian National Petroleum Corporation (NNPC) has enjoined motorists in Abuja and its environs, and indeed the federation, not to engage in panic buying of petroleum products as the country is not planning to increase in the prices of petroleum products.

NNPC assures motorists that it has 1.3 billion litres stock of PMS, otherwise called petrol, which is sufficient to serve the nation for more than 38 days.

This plea came on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government was about to increase the pump price of the white product from N145 per litre.

NNPC in a press statement on Thursday dismissed the rumour.  It said there was no iota of truth in the rumour  that government was scheduled to adjust pump price of petrol.

”Indeed, with the resumption of production by the Corporation’s three refineries in Kaduna, Port Harcourt and Warri, complemented by imports, there is enough stock of PMS, Automotive Gas Oil (AGO), diesel and kerosene, ”NNPC said.

”This much was explained by NNPC Chief Operating Officer of the Refineries, Mr. Anibor Kragha while briefing the Senate Committee on Petroleum Downstream in a presentation on the current status of the refineries at the National Assembly Complex in Abuja.

”In the presentation, Kragha told the legislators that the nation’s three refineries produced additional volumes of 4.6 million litres of kerosene and 7.7 million litres of diesel, in addition to millions of litres of petrol being refined daily at the nation’s refineries.

”The assurances of availability of stock by the NNPC Chief Operation Officer of the Refineries on Wednesday still stand”, confirmed Ndu Ughamadu, the Group General Manager, Public Affairs of the corporation.