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FG Clears Air on Fuel Price Hike Rumor, Says NNPC has Enough Fuel for 34 days

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Federal Government has no intention of increasing the price of Premium Motor Spirit (PMS) during the festive period.

The General Manager, Corporate Communications, NMDPRA, Mr Kimchi Apollo said this through an advisory which addressed speculations on the increase in price and availability of PMS.

He said the Nigerian National Petroleum Corporation Limited (NNPCL) had 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.

“In keeping with the Authority’s responsibilities as outlined in the Petroleum Industry Act (PIA), the Authority assures the public that it would continue to monitor the supply and distribution of petroleum products nationwide, especially during this holiday season,” he said.

The News Agency of Nigeria (NAN) reports that pump price of PMS is being sold currently between N178 and N180 per litre inside Abuja city centre while the outskirt retail stations dispense fuel between N200 to N250 per litre.

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