NNPC: No plan to jack up petrol price

The management of the Nigerian National Petroleum Corporation, NNPC said there is no truth in the speculations that the Federal Government plans to increase the price of Premium Motor Spirit, PMS, otherwise known as petrol. The Corporation said the rumour of the planned increase in the price of the product is behind the buildup of fuel queues in Abuja and other parts of the country.

The Group General Manager, Group Public Affairs Division, NNPC, Levi Ajuonuma disclosed that there is no reason for the artificial scarcity as the NNPC has well over 39 day sufficiency of PMS and other petroleum products in stock.

While describing the rumour of the proposed hike in fuel price as baseless and unfounded, Ajuonuma urge the Petroleum Tanker Owners to release their trucks for loading of petroleum products at various depots and loading facilities in Lagos now that the elections have been rounded up across the country.