July 21, 2024

NNPC Clarifies Fuel Price Stability Amid Supply Challenges




The Nigerian National Petroleum Corporation Limited (NNPCL) has reaffirmed that there will be no changes in the prices of petroleum products, despite ongoing logistical challenges affecting fuel supply in some parts of the country. In a statement issued by its Chief Corporate Communications Officer, Olufemi Soneye, the NNPC attributed the tightness in fuel supply to logistical issues, which have since been resolved.


Soneye emphasized the sufficiency of petroleum products in the country and urged Nigerians to refrain from panic buying. He assured the public that the logistical challenges causing supply constraints have been addressed, underscoring the corporation’s commitment to ensuring stable fuel availability nationwide.


The statement from the NNPC read in part: “NNPC Ltd says the cause of tightness in fuel supply resolved. The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved. It also wishes to reiterate that the prices of petroleum products are not changing. It urges Nigerians to avoid panic buying as there is sufficiency of products in the country.”

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