There seems to be a sigh of reliefs for Nigerians as the Independent Petroleum Marketers Association of Nigeria, IPMAN, have warned Nigerians against panic-buying amid reports of a planned hike in the pump price of petrol, otherwise known as Premium Motor Spirit, PMS, to N1,200.

Okanlawon Olanrewaju, IPMAN’s Public Relation Officer, disclosed that the association has no plans of increasing the price of the Fuel.

He made this disclosure during an interview on Channels Television’s Sunrise Daily on Thursday, stressing that Fuel Marketers are been considerate and wouldn’t want to inflict any unnecessary pain on Nigerians.

“As far as the independent marketers are concerned, we don’t have plans or plans to increase fuel pump price.

“There is no basis for that for now. There is no signal from NNPC that we should increase. So, we cannot do that on our own except NNPC comes out and says we are going to increase pump price. On our own, there is nothing like that.

“I want to use this opportunity to appeal to the public to stop panic buying. There is nothing like that (fuel price increment). It is just a rumour.”

Though the Nigerian National Petroleum Company Limited, NNPCL, had assured Nigerians that contrary to rumours making the rounds of an imminent increase in the price of Fuel is false.

Olufemi Soneye, NNPCL Spokesman had urged Nigerians to disregard unfounded rumours and assures them that there are 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 NNPCL also refuted claims of a clash with IPMAN, insisting that subsidy has been entirely removed on petrol months after President Bola Tinubu pronounced the development on May 29th, 2023, when he was sworn in as President of the Federal Republic of Nigeria.