The Nigerian National Petroleum Company (NNPC) Ltd. has quelled speculations of an impending surge in the cost of Premium Motor Spirit (PMS), commonly known as petrol. In a statement issued by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the national oil company reassured the public that there are no plans for a price increase.
“NNPC Ltd. urges Nigerians to disregard unfounded rumors and assures them that there are no plans for an upward review of the PMS price,” stated Soneye.
Motorists across the nation are cautioned against succumbing to panic buying, as NNPC emphasizes the current ample availability of PMS throughout the country.
This announcement follows reports of a recent scarcity of Petroleum Motor Spirit in Lagos. Motorists seeking to purchase PMS in Lagos on Wednesday encountered an unusual number of fueling stations refusing to sell, resulting in long queues at the few stations that were dispensing fuel.
Investigations revealed that, apart from selected stations like BOVAS, Total, North West, and NNPC in Ikeja, only the mobile filling station at Irawo had fuel available for sale. Notably, numerous filling stations along key areas such as Obafemi Awolowo Road, Ikorodu Road, and Airport Road were closed, despite having sold fuel the previous night.
The Total Filling station at Mobolaji Bank Anthony Way, Mobile at Irawo, and other NNPC filling stations in Ikeja witnessed heavy queues, causing congestion in the Ikeja axis. The situation prompted some motorists to increase their fares, highlighting the challenges faced by commercial transport operators.
A concerned motorist at a filling station remarked, “We suspect that fuel is about to rise to N1,000 per litre. That is why these other filling stations are not selling fuel. Even this Mobil that is selling is doing so at N615 per litre. I bought fuel here yesterday at N585. Tell me what happened between yesterday night when I bought fuel and today that made them jack up the price to N615. Yet, we still have to queue up.”
NNPC’s assurance seeks to allay fears and maintain stability amidst the fluctuations in fuel availability and pricing observed in certain regions.
