By Godfrey AKON
The Nigerian National Petroleum Company, NNPC, Ltd has assured the public that there is no imminent increase in the cost of Premium Motor Spirit, PMS, commonly known as petrol.
The company, in a statement by its Chief Corporate Communications Officer, Olufemi Soneye, on Wednesday urged Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.
It advised motorists nationwide against engaging in panic buying, as there is presently ample availability of PMS across the country.
The statement followed reports that oil marketers have pegged petrol price at N1,200 per litre and were only awaiting official pronouncement to effect the price change from the current price of between N642 to N690 per litre.
