Motorists across Nigeria can breathe a sigh of relief, as the Nigerian National Petroleum Company (NNPC) Ltd. has categorically denied any plans to raise the price of Premium Motor Spirit (PMS), also known as petrol.

In a press release issued yesterday, NNPC Ltd. Chief Corporate Communications Officer, Olufemi O. Soneye, addressed recent rumors circulating about a potential petrol price increase. He firmly stated that these whispers are unfounded and urged the public to remain calm and avoid panic buying.

“We want to assure all Nigerians that there is absolutely no imminent increase in the price of PMS,” asserted Soneye. “NNPC Ltd. is committed to ensuring fuel availability and price stability throughout the country, and we have ample reserves to meet national demand.”

Soneye further advised motorists against engaging in unnecessary stockpiling, emphasizing that fuel stations nationwide are currently well-supplied with PMS. Panic buying, he noted, can disrupt the smooth distribution of fuel and create unnecessary anxiety among the public.