The Federal Government has denied any plans to hike the pump price of petrol despite the increase in price from N180 per litre to N235 by independent marketers.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, made this known in a statement released while also insisting that the country has 34 days of sufficiency in stock despite visible evidence of shortage across the country.
”This advisory addresses speculations on the price and availability of Premium Motor Spirit, PMS. The Authority wishes to inform the general public that the Federal Government has no intention of increasing the price of PMS during this period.
The Nigerian National Petroleum Corporation Limited (NNPCL) has imported PMS with current stock levels sufficient for 34 days.
Consequently, Marketers and the general public are advised to avoid panic buying, diversion of products, and hoarding.” the statement in part reads
The agency assured the public that it would continue to monitor the supply and distribution of all petroleum products nationwide, especially during the Yuletide.
The Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Ukadike, blamed the scarcity of petrol on supply shortage.