Home » NNPC Debunks Fuel Price Hike Rumors, Assures Steady Supply

NNPC Debunks Fuel Price Hike Rumors, Assures Steady Supply

No Change in Petrol, Diesel Prices, Confirms NNPC Amid Speculation

by Ikeoluwa Juliana Ogungbangbe
NNPC fuel price stability

In a recent development that has captured the attention of consumers across Nigeria, the NNPC Limited, a leading global energy company engaged in various activities along the energy value chain, has officially announced that there has been no change in the pricing of petrol and diesel within the country. This clarification comes amidst swirling rumors and speculative reports circulating on various online platforms and social media since Tuesday, suggesting an imminent price adjustment for these essential fuel products.

The rumors, which quickly gained traction but lacked detailed explanations or justifications for such price adjustments, prompted a swift response from NNPC Limited. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., issued a statement to set the record straight. In his statement, Soneye emphatically denied the reports of a price hike, labeling them as unfounded and urging the Nigerian populace to dismiss such rumors outright.

Soneye’s statement read: “The NNPC Limited wishes to clarify rumors suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide. The company asserts that these reports are false and urges Nigerians to disregard them entirely.”

He further reinforced NNPC Ltd.’s dedication to maintaining a consistent supply of petroleum products across the nation, ensuring that Nigerians continue to enjoy access to fuel without disruption. “NNPC Ltd. reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country,” Soneye added.

This reassurance from NNPC Ltd. comes at a crucial time when speculation about fuel prices can lead to unnecessary panic buying, hoarding, and potential disruptions in the daily lives of millions of Nigerians. The company’s proactive approach in quashing these rumors and committing to the stability of fuel supply underscores its role as a key player in the nation’s energy sector, tasked with ensuring energy security and economic stability.

As the situation unfolds, Nigerians are encouraged to stay informed through credible sources and rely on official statements from NNPC Ltd. and other regulatory bodies for accurate information regarding fuel prices and availability. This incident highlights the importance of responsible reporting and the need for clear communication from corporations and government entities to prevent misinformation and ensure public trust in the management of essential services.

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