The Nigerian National Petroleum Company (NNPC) Ltd. has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.

This is on the backdrop of queues seen at different fuel stations across the country, especially in Lagos, Ogun, Edo and Delta State.

However, the state-owned oil company in a statement signed by Femi Soneye, chief corporate communications officer of the NNPC urged Nigerians to disregard unfounded rumours and assure them that there are no plans for an upward review of the PMS price.

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“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country,” the statement read.