The Nigerian National Petroleum Company (NNPC) Ltd. has refuted claims of an imminent rise in the cost of Premium Motor Spirit (PMS), also known as petrol, urging citizens to dismiss unfounded speculations regarding a potential fuel price hike. Mr. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., reaffirmed this stance in a statement released on Wednesday.
Soneye reassured the public, emphasising that there were no immediate plans for an upward adjustment in petrol prices. He further advised motorists across the nation against succumbing to panic buying, highlighting the current abundant availability of petrol nationwide.
Addressing reports circulating in certain media sections alleging clashes between fuel marketers associated with the Independent Petroleum Marketers Association of Nigeria (IPMAN) and NNPC Ltd. regarding subsidy payments, Soneye clarified that subsidy on petrol had been completely eliminated. He denied any disputes with IPMAN over purported subsidy payments.
In an interview with the News Agency of Nigeria (NAN), IPMAN National President, Mr. Chinedu Okoronkwo, echoed Soneye’s statements, dismissing rumours of any disagreements. Okoronkwo urged the public to disregard such unfounded news.
