January 28, (THEWILL) – The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured Nigerians that there are no plans to increase the price of Premium Motor Spirit (PMS) commonly referred to as Petrol.
The Authority said the Nigerian National Petroleum Company (NNPC) Ltd, has imported a sufficient quantity of PMS to last the country for 34 days.
A statement titled ‘Price and Supply of Premium Motor Spirit’, issued on Friday, by the NMDPRA, addressed speculations on the price and availability of PMS as queues have resurfaced across the country.
The NMPDRA said, “The Authority wishes to inform the public that the Federal Government has no intention of increasing the price of PMS during this period.
“The Nigerian National Petroleum Company Limited (NNPCL) has 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 all petroleum products nationwide, especially during this holiday season.”
