Nigerian National Petroleum Company (NNPC) Limited has unequivocally confirmed that there will be no immediate increase in the pricing of Premium Motor Spirit (PMS), popularly referred to as petrol in Nigeria.
Addressing the public, NNPC Limited dismisses baseless rumours and underscores its commitment to maintaining the current pricing structure of PMS. In a statement issued by its spokesman, Olufemi Soneye, the company assures Nigerians that there are no impending plans to revise the cost of this essential fuel.
In light of this assurance, motorists nationwide are strongly advised to ignore any unwarranted panic-buying impulses. NNPC Limited reassures the public that there is an abundant supply of PMS throughout the country, ensuring uninterrupted access for consumers.
A newspaper report on Wednesday sparked debate over the position of fuel subsidies under the present administration, despite the claim by President Bola Tinubu that fuel subsidies have been discontinued.
The newspaper quoted some economists who claimed that fuel subsidies have not been eliminated but have been reduced, putting the cost of fuel without subsidies at over N1,000. But NNPC stated that “we reiterate that the Nigerian government does not pay subsidies on fuel; we recover full costs from our imported products.”
