The NMDPRA spokesman said the Nigerian National Petroleum Corporation Limited (NNPCL) had imported PMS with current stock levels sufficient for 34 days.
By Jeffrey Agbo
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said there is no plan underway by the Federal Government to increase the price of Premium Motor Spirit (PMS) aka fuel during the festive period.
Nigeria has been hit by fuel scarcity in recent weeks, with filing stations jam-packed and prices going as high as N350 per litre.
The General Manager, Corporate Communications (NMDPRA), Kimchi Apollo, said in an advisory on Wednesday addressing speculations on the increase in price and availability of PMS that the Nigerian Government does not intend to increase fuel price.
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The NMDPRA spokesman 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 pump price of PMS is being sold between N178 and N180 per litre inside Abuja city centre while the retail stations in the outskirts of the capital dispense fuel between N200 to N250 per litre.