Adedapo Adesanya
Adedapo Adesanya
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned Nigerians, especially motorists, against panic-buying following reports of a planned hike in the pump price of petrol also called Premium Motor Spirit (PMS), adding that there are no plans to hike the cost of the product.
Recall that on Wednesday, it was reported that petrol prices could sell as high as N1,200 due to the constraints in acquiring foreign exchange (FX) to import the commodity.
The news was met with outrage and apprehension from Nigerians.
Later on Wednesday night, the Nigeria National Petroleum Company Limited (NNPC) Limited dismissed the possibility of that happening, assuring the public that there was no imminent increase in the cost of petrol.
“NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price,” its spokesman Mr Olufemi Soneye said.
“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country,” the organisation said in a statement.
The NNPC Limited also refuted claims of a clash with IPMAN, insisting that subsidy has been entirely removed on petrol months after President Bola Tinubu pronounced the development.
On Thursday, IPMAN’s Public Relations Officer, Mr Okanlawon Olanrewaju, said there is no plan by fuel marketers to increase fuel prices.
He made this assertion while speaking on Channels Television’s Sunrise Daily on Thursday morning.
“As far as the independent marketers are concerned, we don’t have plans or plans to increase fuel pump price,” he said.
“There is no basis for that for now. There is no signal from NNPC that we should increase. So, we cannot do that on our own except NNPC comes out and says we are going to increase pump price. On our own, there is nothing like that.
“I want to use this opportunity to appeal to the public to stop panic buying. There is nothing like that,” referring to the fuel price increment, adding that, “It is just a rumour.”
