Just as the Nigeria Electricity Regulatory Commission (NERC) debunked speculations it had given the go-ahead for an increase in electricity tariffs, the Nigerian National Petroleum Company (NNPC) Ltd. assures the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.
NERC, through its spokesman, Dr. Usman Arabi, on Tuesday said: “The Commission (NERC) has not approved any new electricity tariffs for any of the electricity distribution companies within the Nigerian Electricity Supply Industry. No new electricity tariff has been approved. Nigerians should ignore any news reports about new electricity tariff coming up on the 1st January 2024.”
NNPC spokesman, Olufemi Soneye, in a statement on Wednesday said: “NNPC Ltd. urges 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.”