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FG has no intention of increasing the fuel price
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said the Federal Government has no intention of increasing the price of Premium Motor Spirit (PMS) during this period of fuel scarcity.
This is contained in a statement by NMDPRA on Wednesday while addressing the speculations of the price and availability of fuel.
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NMDPRA added that the Nigerian National Petroleum Corporation Limited (NNPCL) has imported PMS with current stock levels sufficient for 34 days.
The regulatory body also noted that it would continue to monitor the supply and distribution of all petroleum products nationwide, especially during this holiday season.
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NMDPRA called upon marketers and the general public to avoid panic buying, diversion of products, and hoarding.
The Nigerian National Petroleum Company Limited Vice President, Adeyemi Adetunji had recently disclosed that it has two billion litres of Premium Motor Spirit in stock.
Adetunji said that the available stock is sufficient for at least 30 days and has programmed vessels and trucks to unconstrained depots while massive load-outs from depots to states are closely monitored to ease fuel queues.
“We want to reassure Nigerians that NNPC has sufficient products and we significantly increased product loading in selected depots and extended hours at strategic stations to ensure sufficiency nationwide,” Adetunji said
He added that NNPC IS working with industry stakeholders to ensure normalcy is returned as soon as possible.
