The Nigerian National Petroleum Company (NNPC) Ltd has denied any imminent hike in the pump prices of Premium Motor Spirit (PMS), popularly known as petrol.

Recently, some motorists have been experiencing difficulties buying petrol in filling stations amid fears that the authorities could hike the price of the essential commodity. The situation led to the reappearance of long queues resurfacing in different filling stations in Lagos State, causing traffic gridlock in some areas.

But in a statement on Thursday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, urged Nigerians against panic buying of petrol.

“The Nigerian National Petroleum Company (NNPC) Ltd. assures the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol,” the statement read.

“NNPC Ltd. urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.

“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country.”