NNPC, IPMAN: No Plans to Raise Fuel Prices, Warn Against Panic Buying

the Nigeria National Petroleum Company (NNPC) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have joined forces to quell the rising tide of panic-buying sweeping through Nigeria, cautioning citizens to stay calm amidst swirling rumors of an impending surge in petrol prices.

The specter of discord looms over fuel marketers and the NNPC, with ongoing tensions revolving around government subsidy payments.

Whispers in the market suggest that the cessation of under-recovery in fuel costs could potentially catapult the price of petrol to an alarming N1,200 per litre. Yet, Okanlawon Olanrewaju, the Public Relations Officer of IPMAN, took to the airwaves on Channels Television to dispel such concerns.

Olanrewaju emphatically declared that independent marketers harbored no intentions of orchestrating a price hike without explicit instructions from the NNPC.

“I want to use this opportunity to appeal to the public to stop panic buying. There is nothing like that (fuel price increment). It is just a rumor,” Olanrewaju emphatically stated, aiming to extinguish the flames of uncertainty.

In tandem, Femi Soneye, the Chief Corporate Communications Officer of NNPC, issued a reassuring statement. NNPC Ltd sought to allay fears, categorically denying any imminent rise in the cost of Premium Motor Spirit.

Soneye urged Nigerians to dismiss baseless rumors and assured them of the company’s steadfast commitment to maintaining stable fuel prices.

“Motorists nationwide are cautioned against participating in panic buying, as there is currently an abundant supply of PMS across the country,” the NNPC statement emphasized, attempting to assuage concerns with a tone of confidence.

Together, the united front presented by NNPC and IPMAN seeks to not only dispel rumors but also to instill a sense of assurance in the hearts of Nigerian motorists, reminding them that a robust supply of petrol is readily available nationwide.