JUST IN: NNPC Says Panic Buying Unnecessary, Clears Air On Increase In Petrol Price

JUST IN: NNPC Says Panic Buying Unnecessary, Clears Air On Increase In Petrol Price—-The Management of Nigerian National Petroleum Corporation, NNPC, has again advised Nigerians not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol.

The Genius Media Nigeria reports that this was made known on Monday by Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC, in Abuja, said that the NNPC had over 1.7 billion litres of petrol in stock.

Garba Muhammad said It is therefore unnecessary to entertain any fear of scarcity of petrol throghout the festive season and beyond.

The NNPC is also not aware of any plan by goverment to cause an increase in the pump price of petroleum. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week.

In view of these assurances therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country.

The NNPC is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond.