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Government owned oil and gas company, the Nigerian National Petroleum Company (NNPC) Limited has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.

The company in a statement signed by its Chief Corporate Communications Officer, Olufemi O. Soneye, urged Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.

Therefore, the company advised motorists nationwide “against engaging in panic buying, as there is presently ample availability of PMS across the country.”