Marketers Provide Update on Fuel Pump Price Increase in Nigeria

Nigerian marketers have given a fresh update on the fuel pump price increase in the country.

According to the Nigerian National Petroleum Company Limited (NNPCL), there is no plan to increase the pump price of Premium Motor Spirit (PMS), otherwise known as petrol, anytime soon.

This statement comes amidst rumors and speculations of a possible hike in fuel prices to N1,200 per litre.

NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, emphasized that the company has not clashed with any party and that the subsidy on fuel has been entirely removed.

He urged motorists to avoid panic-buying, as there is currently ample availability of PMS across the country.

Independent Petroleum Marketers Association of Nigeria (IPMAN) Public Relations Officer, Okanlawon Olanrewaju, also stated that there is no basis for a fuel price hike for now and that there is no signal from NNPC to increase petrol price.

In light of these updates, it is advised that Nigerians remain calm and avoid panic-buying, as there is no imminent increase in fuel pump prices.

The NNPCL and IPMAN have both assured the public that there are no plans to increase the price of petrol, and that the current supply of fuel is sufficient to meet the demands of the country.