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NNPC debunks rumour of impending fuel price hike

27 February 2014, 10:01

Abuja - The Nigerian National Petroleum Corporation (NNPC) has denied rumours of an imminent increase in the fuel price.

This is contained in a statement issued in Abuja by Dr Omar Farouk Ibrahim, the Acting Group General Manager, Group Public Affairs Division, NNPC.

In the statement, the NNPC stated that there were no plans by the Federal Government to increase the price of fuel in the country.

The corporation also reassured Nigerians that there was enough supply of fuel in the country at the moment.

It urged motorists not to indulge in panic buying as there were enough products to last the country for several weeks.

The corporation stated that the re-emergence of long queues was due to hoarding by filling station owners in vain anticipation of fuel price hike.

It implored filling station owners to refrain from hoarding, to help lessen long queues.

The NNPC also cautioned marketers who were loading petrol from their various depots not to hoard the product as erring marketers would be sanctioned.

The Petroleum Products Pricing Regulatory Agency (PPPRA) earlier said the reappearance of long queues at filling stations across the country was artificial and uncalled for.


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