The Nigerian National Petroleum Corporation (NNPC) has debunked what it described as persistent rumours of an imminent increase in pump prices of petroleum products, while also decrying ongoing hoarding by dealers and marketers. The Corporation’s position was to contained in a statement released by Dr Levi Ajuonuma, the Group General Manager, Group Public Affairs of the Corporation.
“This unfounded rumour has led to product hoarding and panic buying culminating in the build-up of queues in fuel filling stations around Abuja and its environs.  We wish to assure the general public that there is no plan both now and in the immediate future to increase prices of petroleum products.
It is also gratifying to inform the consuming public that the local refineries in Warri and Kaduna which had been out of operations for almost two years due to pipeline vandalism, are due to commence operations.”
The corporation said it is therefore, comfortable with stocks of petroleum products in its depot nationwide.
“Our inspection team been mobilized to ensure that fuels are dispensed at the fuel filling stations in line with stipulated guidelines and regulations.

“Any marketer or filling station caught hoarding, diverting or selling products to hawkers will not only be summarily sanctioned but stands the risk of being blacklisted. “The general public is therefore, advised not to engage in panic buying or hoarding as there is adequate stock of products and there is no intention whatsoever to increase prices either now or in the near future” the statement read.