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The Nigerian National Petroleum Company (NNPC) Limited has described as untrue the reports alleging that it has reduced the pump prices of Premium Motor Spirit (PMS), otherwise known as petrol, and Automotive Gas Oil (Diesel) nationwide.
This is coming on the heels of a trending topic on social media, which claimed that the national oil company had implemented a price adjustment at its retail stations across the country.
The report attributed the purported price reduction to the recent appreciation of the naira. Recall the nation's currency embarked on a resurgence last week, gaining over ₦500 against the United States dollar.
The propagators of the reduction said NNPCL had reduced the fuel pump price by ₦10.
However, reacting in a statement on the evening of Wednesday, March 27, 2024, Olufemi Soneye, the Chief Corporate Communications Officer of the company, urged Nigerians to disregard the rumours.
"The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.
"The company asserts that these reports are false and urges Nigerians to disregard them entirely," he said.
Soneye reaffirmed the NNPCL's commitment to sustaining the current sufficiency in petroleum products nationwide.
"NNPC Ltd. reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country," the statement added.