In spite of assurances by the Nigerian National Petroleum Corporation (NNPC) and the petroleum marketers, motorists in the federal capital territory, Abuja, have been lamenting the return of long queues at filling stations across the city.
The NNPC had on Sunday night cautioned motorists not to engage in panic buying as it does not intend to increase the pump price of petrol. The State run oil corporation also warned fuel stations not to engage in hoarding of the product.
In the statement by Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, the Corporation said it was not contemplating any rise in the price of petrol in March in order not to jeopardize ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship.
NNPC also cautioned petroleum products marketers not to engage in arbitrary price increase or hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.
The Corporation stated that it has enough stock of petrol to keep the nation well supplied for over 40 days and urged motorists to avoid panic buying.
It further called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase of pump price.
However, it seem the statement by NNPC had fallen on deaf ears as Nigerians in numbers besieged fuel stations to buy fuel.
According to some motorists, with rumours of fuel price increase on the horizon, it was better that they fill their tanks so they are not caught unawares.
Oil marketers, had on Sunday, said that Premium Motor Spirit (PMS) otherwise known as petrol will sell for as much as N230 per litre in March.
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