NNPC Attributes Fuel Queue To Panic Buying, Dismisses Fuel Price Hike

SAN FRANCISCO, December 06, (THEWILL) – The Nigerian National Petroleum Corporation (NNPC), has attributed the long queue at various filling stations across the country to panic buying.

THEWILL reports that 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.

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.

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.

It gave assurance that the Corporation has the full commitment of all downstream stakeholders including petroleum marketers and industry unions to cooperate in achieving zero fuel scarcity during the yuletide and beyond.

The NNPC enjoined motorists and other users of petroleum products to disregard trending rumours of an impending fuel price hike as reported in some news platforms.

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