The Nigerian National Petroleum Corporation (NNPC) has said there will be no increase in the price of petrol in the country and has cautioned sellers and buyers against hoarding and panic-buying.
The NNPC said this in a statement by its Group General Manager, Group Public Affairs Division, Garba Deen Muhammad.
The corporation said it has over two billion litres of petrol in stock.
The response came amidst reports of a possible increase in the price of petrol that has dominated the public space.
This newspaper had reported how queues resurfaced in Abuja on Monday as residents besieged fuel stations in anticipation of yet another round of fuel scarcity.
It was discovered that some of the stations were shut on Tuesday against intending buyers, while others were besieged by motorcyclists, tricycle owners, as well as private and commercial drivers.
Black marketers were also seen hawking the product in jerry cans to interested motorists and other consumers.
Many filling stations in the Wuse and Jahi areas of the city sold to buyers at prices ranging from N162 to N165.
NNPC in a statement said, “The Nigerian National Petroleum Company Ltd wishes to express its appreciation to Nigerians for always heeding its advisories not to engage in panic buying of petrol.
“The NNPC is once again giving Nigerians strong assurance that we have product sufficiency that will last far beyond the festive period.
“Indeed, our stock has risen from a reserve of 1.7 billion liters to over two billion liters within the last one month. litres.
“We once again urge Nigerians not to engage in panic buying but to fully enjoy the spirit of the festive season as we continue to work tirelessly to ensure a sufficient supply of petrol to every part of the country.
“Once again the NNPC extends sincere appreciation to all Nigerians for your understanding and support,” it said.(Premium Times)