The Nigerian National Petroleum Corporation says it has no plan to review pump prices of petroleum products, especially Premium Motor Spirit (PMS), popularly known as petrol.
The Corporation disclosed this in a statement signed by its spokesman, Mr. Ndu Ughamadu, in Abuja on Tuesday.
“The Federal Government has no plan to review prices of white products either downwards or upwards,’’ he said.
He said that though NNPC, since October 2017, had been the sole importer of PMS into the country, government had no plan to review the market prices of products either upwards or downwards now.
He cautioned those spreading falsehood to be wary of the impacts their ignoble act could cause on prices of petroleum products especially petrol as the festive period draws near.
According to him, if not checked, the insinuation of unsubstantiated price review can lead to artificial scarcity and hoarding of products by consumers.
This, he added may result in unwarranted queues and suffering of Nigerians at fuel stations.
Ughamadu urged members of the public to report any station that sells PMS above the N145 recommended price to the offices of the Department of Petroleum Resources nationwide.
“The Department is authorised to monitor and regulate the Industry’s activities,’’ he added.
He reiterated the recent statement of the NNPC Group Managing Director, Dr Maikanti Baru, that the corporation had 37 days stock of PMS in the country.
He added that the corporation had mapped out strategies to ensure that Nigerians have a hitch-free festive period.
(NAN)
The trial involving money laundering filed against Binance Holdings Limited and two of its executives,…
The Nigeria Police Force has announced the arrest of the alleged mastermind of the killing…
At least 50 people have been arrested by the Lagos State Police Command in connection…
The Federal High Court in Abuja has authorised the issuance of notices of contempt proceedings…
Lecturers at the University of Abuja under the Academic Staff Union of Universities have paralysed…
The Maximum Deposit Insurance Coverage for banks operating within the country has been increased by…
This website uses cookies.