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FG Speaks On Plan To Hike Fuel Price During Yuletide Season

 

FG Releases Official Statement After Reports Of Increase In Petrol Pump Price

The Federal Government has stated that there is no plan to increase the pump price of petrol during the Yuletide season.

Naija News reports that the Nigerian Midstream and Downstream Regulatory Authority ( NMDPRA) made this known in an advisory issued on Wednesday.

The NMDPRA stated that the government had no plan to increase the price of petrol, describing comments on petrol price and its availability as speculations.

It disclosed that the Nigerian National Petroleum Corporation Limited (NNPCL) has imported petrol with current stock levels sufficient for 34 days.

The agency, therefore, advised marketers and the general public to avoid panic buying, diversion of products, and hoarding of petrol, adding that it would continue to monitor the supply and distribution of all petroleum products nationwide, especially during this holiday season.

However, the government agency did not state any approved pump price for petrol, nor did it condemn the petrol price hike by oil marketers nationwide.

The NMDPRA said, “This advisory addresses speculations on the price and availability of Premium Motor Spirit.

“The authority wishes to inform the general public that the Federal Government has no intention of increasing the price of PMS during this period. The Nigerian National Petroleum Corporation Limited has imported PMS with current stock levels sufficient for 34 days.

“Consequently, marketers and the general public are advised to avoid panic buying, diversion of products, and hoarding. In keeping with the authority’s responsibilities as outlined in the Petroleum Industry Act, the authority assures the public that it would continue to monitor the supply and distribution of all petroleum products nationwide especially during this holiday season.”

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