The Nigerian National Petroleum Corporation(NNPC) has insisted that there will be no increase in the price of Premium Motor Spirit (PMS), despite the PPPRA’s PMS guiding price, released to stakeholders, which showed that the price of PMS has reached N212.6 per liter.
Petrol is forecast to sell at a lower retail price of N209.61 and a higher retail price of N212.61, according to a template published by the PPPRA at midnight.
Pump prices are typically set in the upper band by Nigerian marketers.
Meanwhile, the Nigerian National Petroleum Corporation in a tweet has revealed that there will be no increase in the price of petrol across the country for the month of March.
Similarly, the Independent Petroleum Marketers Association Nigeria (IPMAN), Kano chapter said it has not received any communication on increase of petrol price.
Chairman of the association Kano State Branch Alhaji Bashir Ahmad Dan Malam revealed this in a news conference on Friday.
Mr Dan Malam directed members of the association to continue selling petrol at the current rate of N163,
He explained that IPMAN “has consulted critical stakeholders in the petroleum sector and informed them that there is no such decision of fuel increment for now.”
The IPMAN boss also cautioned against panic buying of fuel, saying the NNPC has abundant stock that can satisfy demand across the country.