The Nigerian National Petroleum Corporation (NNPC) has enjoined motorists not to engage in any panic buying of petroleum products, assuring that it is not planning to hike pump price of petrol.
NNPC assured motorists that the Corporation has 1.3billion litres stock of petrol, which is sufficient to serve the nation for more than 38 days.
The plea came on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government is about to increase the pump price of the white product from N145 per litre.
NNPC said there is no iota of truth in the rumour that government is scheduled to adjust pump price of petrol.
“Indeed, with the resumption of production by the Corporation’s three refineries in Kaduna, Port Harcourt and Warri, complemented by imports, there is enough stock of PMS, Automotive Gas Oil (AGO), diesel and kerosene.
“This much was explained yesterday by NNPC Chief Operating Officer of the Refineries, Mr. Anibor Kragha while briefing the Senate Committee on Petroleum Downstream in a presentation on the current status of the refineries at the National Assembly Complex in Abuja.
“In the presentation, Kragha told the legislators that the nation’s three refineries produced additional volumes of 4.6 million litres of kerosene and 7.7 million litres of diesel, in addition to millions of litres of petrol being refined daily at the nation’s refineries.
“The assurances of availability of stock by the NNPC Chief Operation Officer of the Refineries yesterday still stand,” it said in a statement signed by its spokesman, Ndu Ughamadu.