The Federal Government says there was no intent to adjust fuel price in the country. upward adjustment of the Price at the moment.
Farouk Ahmed, the Chief Executive Officer (CEO), the Nigerian Midstream and Downstream Petroleum Regulatory Authority, who disclosed available to journalists in Abuja,also cautioned marketers against hoarding and engaging in unwholesome practices that are inimical to the smooth supply of fuel.
He said:”It has come to the notice of the Authority that Premium Motor Spirit (PMS) popularly known as Petrol is being sold at loading depots of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) members above the official price which is caused by the erroneous insinuation of imminent increase in the price of the product.
“The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDRA) is assuring the general public that the price of Petrol has not been changed and that the Federal Government has no intention of upward adjustment of the Price at the moment”
He informed that the country has adequate stock of Petroleum and the NNPC has further assured of sufficient supply of Product.
He compelled all operational offices of the Authority across the nation to ensure that all loading depots and retail outlets are dispensing petroleum at only the approved price.
“He also implored motorists to desist from panic buying and report any erring marketer to the nearest office of the Authority” .
