Contrary to speculations of imminent increase in the price of Premium Motor Spirit (petrol), the Nigerian National Petroleum Corporation (NNPC) has said there will be no increase in the price of petrol in the country in March, and has cautioned sellers and buyers against hoarding and panic-buying.
The Corporation said this in a statement by its Group General Manager, Group Public Affairs Division, Kennie Obateru, on Sunday via its official Twitter handle.
NNPC was reacting to reports of possible increase in the price of petrol amidst the scarcity in some parts of the country.
On Sunday, a number of petrol stations in Ojodu and Ikeja areas were under lock and key. At Ojodu-Berger area, the NNPC retail outlet was shut against motorists, while queues resurfaced at various fuel stations in Abuja.
