FG: No plan to increase fuel price, NNPC has 34-day stock sufficiency

The Federal Government says it has no intention to increase the price of Premium Motor Spirit (PMS), otherwise known as petrol, during the festive period.

The General Manager, Corporate Communications, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Kimchi Apollo, said this through an advisory which addressed speculations on the increase in price and availability of petrol on Wednesday.

Many filling stations have since been dispensing fuel between N200 to N250 per litre in some parts of the country.

Apollo said the Nigerian National Petroleum Corporation Limited (NNPCL) had imported petrol with current stock levels sufficient for 34 days.

READ ALSO: Naira remains constant, exchanges at N445.30 to dollar

“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 Star