Major and independent petroleum marketers associations have said there are no plans to increase the price of petrol as being spread by some disgruntled elements.
Their position coincided with a statement from then Nigerian National Petroleum Company (NNPC) Ltd, which further gave assurance to the public that there is a plan to increase the cost of Premium Motor Spirit (PMS), commonly known as petrol.
The NNPC Ltd, in a statement made available to this news platform urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.
It also advised motorists nationwide against engaging in panic buying, as there is presently ample availability of Premium Motor Spirit, PMS, equally called petrol across the country.
Speaking on the issue, both the Independent Petroleum Marketers Association of Nigeria, (IPMAN) and the Petroleum Products Retail Outlets Owners (PETROAN) denied engaging the NNPCL in any forum or suggesting adjustment of the pump price.
President of IPMAN, Elder Chinedu Okoronkwo, overtly dismissed the rumour saying he never mandated anyone to speak in that regard and that the group has not engaged the NNPCL in any discussion either on petrol subsidy removal or price adjustment.
Okoronkwo said the supply mechanism as established since last year has been in place and that groups speculating such disputes are not key marketers with substantial market share and as such should not panic the public on unfounded rumours.
The Petroleum Products Retail Outlets Owners, PETROAN, equally said that petroleum products supply by the Nigerian National Petroleum Company Limited, NNPCL, is currently sustainable and that sales margins being offered gives marketers some level of revenue recovery.
The group with over 19,000 members said it has proposed a meeting with the NNPCL to discuss operational modalities that will govern the downstream sector in the new year.
The national president of the PETROAN, Dr. Billy Gillis-Harry, while speaking on news reports of marketers planned hike of petrol due to uncleared issues surrounding petrol subsidy removal by federal government, said the group is working with the NNPCL on current supply figures.
Gillis-Harry, said at no point has marketers disagreed with the NNPCL on price increase because the market supply system has not been altered.
“Some people would argue there is no subsidy removal or there is partial removal, but there is no empirical evidence to accept that analysis.
”The NNPCL has assured of sustainable supply to marketers and that has not been breached,” he explained.
According to the PETROAN president, while the NNPCL is selling to marketers there is a little disparity at depots operated by marketers.
However he said NNPCL has not reneged in its supply arrangements and they have ensured marketers are not pushed to sell above any threshold.
He said if there is any truth in the subsidy removal report the marketers are not privy to that and NNPCL which is marketers principal suppliers has maintained it is recovering cost of supply at prevailing market price.
