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No increase in petrol price, NNPC warns against panic buying

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The Nigerian National Petroleum Corporation (NNPC) on Wednesday admonished Nigerians not to engage ‎in panic buying of petrol as there was no plan to increase its price.
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In a statement released in Abuja by the Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, the Corporation further assured motorists that there was enough supply in stock.

”The Corporation 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 comes on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government is about to increase the pump price of the white product from N145 per litre.
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”NNPC wishes to assure Nigerians that there is no iota of truth in the rumour that government is 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 petrol‎, diesel and kerosene,” Ughamadu said.
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Ughamadu recalled that this point was explained on Tuesday NNPC Chief Operating Officer, 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 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.

”This 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 yesterday still stands,” he said.

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