The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Federal Government has no intentions to increase the price of Premium Motor Spirit (PMS).
NMDPRA disclosed this in a statement on Thursday.
“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 statement reads.
“The Nigerian National Petroleum Company Limited (NNPCL) 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 (PIA), the Authority assures the public that it would continue to monitor the supply and distribution of all petroleum products nationwide, especially during the holiday season”.
The whole country is currently witnessing a scarcity of petrol, making life difficult for citizens and residents.
In Abuja, the nation’s capital, the black market is flourishing as a 10-litre keg sells for between N3500 to N5000.
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