NNPC Dismisses Fuel Price Hike, Attributes Queuing To Panic Buying

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The Nigerian National Petroleum Corporation (NNPC), has said the long queue at various filling stations across the country is due to panic buying.

Reports online has it that the long queues have been witnessed in the country with speculations of an intending upward review of the pump price of petrol which made NNPC Group Managing Director (GMD), Dr. Maikanti Kacalla Baru, cut short his trip to London.

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Dr. Baru, who was billed to receive the Forbes Oil & Gas Man of the Year Award 2017 in the British Capital flew back home as concerns increased over the sudden fuel queues nationwide.

While speaking on the development, Baru called on Nigerians to stop panic buying as the corporation was doing everything within its reach to address the situation.

“For the umpteenth time, I wish to call on all Nigerians to stop panic buying. We have said times without number that NNPC has sufficient products to cater for the needs of all consumers,” Baru stated.

The NNPC in a release also informed Nigerians that there was no plan whatsoever to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide.

It declared that the ex-depot petrol price of N133.38 per litre and the pump price of N143/N145 per litre have not changed, noting that the Corporation has enough stock of fuel to ensure seamless supply and distribution of products across the country.

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Damilare Bankole
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