Yesterday, The Petroleum Products Pricing Regulatory Agency (PPPRA) has projected the price of Premium Motor Spirit (PMS), better known as petrol, at N212.11 per litre.
The federal government agency announced this in its pricing template for the month of March, which was based the price on the average costs of imported petroleum products.
Shortly, after the announcement, long queue suddenly surfaces in most of the filling stations on the mainland and island in Lagos. Though the filling station didn’t increase the petrol price, some of the motorists expressed fear that they could be an increase after the announcement.
However, the Nigerian National Petroleum Corporations through the GMD Call for calm, says it has not increased the ex-depot price of petrol.
The Group General Manager, Group Public Affairs Division of the Corporation, Dr Kennie Obateru, on Friday, urged Nigerians and motorists not to engage in panic buying of the products.
“There is no need for panicking and I can tell you from our own point of view that we will not increase the pump price of petrol and we are still standing by that March 1 decision.
“We have a sufficient product in the country and there is really no need for the public to panic. Like I have stated, the ex-depot price for the NNPC is still at it is, it has not increased and it will not increase in this month of March,” he said.