The Nigerian National Petroleum Corporation (NNPC) says it has no plan to revaluate pump prices of petroleum products, especially Premium Motor Spirit (PMS), popularly known as petrol.
The Oil Corporation disclosed this in a statement signed by its spokesman, Mr Ndu Ughamadu, in Abuja, on Tuesday.
“The Federal Government has no plan to review prices of white products either downwards or upwards,’’ he said.
He said that though NNPC, since October, 2017, had been the sole importer of PMS into the country, FG had no plan to review the market prices of products either upwards or downwards now.
He warned those spreading falsehood to be wary of the impacts their despicable act could cause on prices of petroleum products especially petrol as the festive period draws near.
According to him, if not checked, the insinuation of unconfirmed price review can lead to artificial scarcity and hoarding of products by consumers.
This, he said may result in unwarranted queues and suffering of Nigerians at various fuel stations across the country.
Ughamadu urged members of the public to report any fuel station that sells PMS above the N145 recommended price to the offices of the Department of Petroleum Resources (DPR) nationwide.
“The Department is authorised to monitor and regulate the Industry’s activities,’’ he added.
He reiterated the recent statement of Dr Maikanti Baru, The NNPC Group Managing Director that the corporation had 37 days stock of PMS in the country.
He concluded that the corporation had mapped out strategies to ensure that Nigerians have a hitch-free festive period.