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 assurance was given on Wednesday by the company in a statement issued by its Chief Corporate Communications Officer, Olufemi O. Soneye.

NNPC urged Nigerians to disregard “unfounded rumours” about possible increase in the price of the product.

It assured them that there were no plans for an upward review of the PMS price.

“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country,” the spokesman asserted.