NNPC Ltd. Reassures Nigerians: No Plans for PMS Price Increase

• NNPC reassures public, stating no immediate plans to increase petrol price, urging Nigerians to dismiss unfounded rumours
• Chief Corporate Communications Officer emphasizes abundant PMS supply, advises against panic buying, and assures no price review intentions

The Nigerian National Petroleum Company (NNPC) Ltd. has issued a statement reassuring the public that there are no immediate plans to raise the price of Premium Motor Spirit (PMS), commonly known as petrol.

Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., emphasized in the statement released on Thursday that Nigerians should dismiss any unfounded rumours suggesting an imminent hike in PMS prices.

Soneye underscored that there are no intentions to implement a price review for PMS. He urged motorists nationwide to refrain from panic buying, as there is an abundant supply of PMS nationwide.

In summary, NNPC Ltd. seeks to ease concerns and ensure the public that there is no impending increase in the cost of petrol, urging citizens to disregard any speculative information and maintain normal fuel purchasing habits.

Ndume Applauds Tinubu for Directing NNPCL to Deposit Oil Revenue in CBN

Senate Chief Whip Ali Ndume has praised President Bola Ahmed Tinubu for instructing the Nigerian National Petroleum Company Limited (NNPCL) to deposit all crude oil proceeds into the Consolidated Revenue Fund at the Central Bank of Nigeria (CBN).

Ndume expressed his commendation in response to questions from reporters in Abuja. He further urged the President to issue an Executive Order on Unexplained Wealth, empowering anti-corruption and security agencies to investigate individuals with questionable riches.

The Senate Chief Whip called for an extension of the directive to NNPCL regarding the prompt remittance of oil revenue to CBN to all revenue-generating agencies of the Federal Government. He emphasized transparency, monitoring, and accountability in handling government funds.

“The President has now ordered that all crude oil sales money be paid into the CBN. That is a very welcome and positive thing that he has done, and he should not stop there,” Ndume stated.