NNPC Warns Nigerians Against Panic Buying, Says Fuel Available In Sufficient Quantity

By PHC Telegraph

The Nigerian National Petroleum Company says logistic problems impeding the easy supply of fuel across the country have been resolved.

The NNPC’s reaction is coming in the wake of reports across the country that motorists and other consumers of the product were making frantic efforts to acquire fuel, given what they perceive as signs that there could be scarcity in supply.

According to information, some Nigerians have already started speculating that the hiccups experienced in the supply chain could equally result in a change in pump price.

Allaying fears among members of the public who see a connection between higher fuel prices and inflation, the NNPC said in a press release signed by its Chief Corporate Communications Officer, Olufemi Soneye that no change in the price of the Premium Motor Spirit otherwise known as fuel has been effected.

The statement said the NNPC “wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues”, which it noted “have been resolved.”

Urging Nigerians to avoid panic buying, it disclosed that the petroleum product is sufficiently available in the country.

It added that “the prices of petroleum products are not changing”, at least for now.