The Nigerian National Petroleum Corporation (NNPC) has said it has no plan to review pump prices of petroleum products, especially Premium Motor Spirit (PMS), popularly known as petrol.
In a statement signed by its spokesman, Mr Ndu Ughamadu in Abuja, on Tuesday, the Corporation disclosed that the government has no plan to either raise or lower the price of petroleum products as yet.
According to Ughamadu, “The Federal Government has no plan to review prices of white products either downwards or upwards,” adding that although the NNPC, since October, 2017, had been the sole importer of PMS into the country, government had no plan to review the market prices of products either upwards or downwards now.
He warned against the spreading of falsehood on the products as the impacts of the ignoble act could cause panic buying leading to prices of petroleum products, especially petrol to rise as the festive period draws near.
According to him, the mere suggestion of unsubstantiated price review can lead to artificial scarcity and hoarding of products by consumers, adding that this may result in unwarranted queues and suffering for Nigerians at fuel stations.
He urged members of the public to report any station that sells PMS above the N145 recommended price to the offices of the Department of Petroleum Resources (DPR) nationwide.
“The Department is authorised to monitor and regulate the Industry’s activities,’’ he added.
He reiterated a recent statement by the NNPC Group Managing Director, Dr Maikanti Baru, that the corporation had 37 days stock of PMS in the country.


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