The Nigerian National Petroleum Company (NNPC) Ltd. has assured the public that there is no imminent plans to increase the cost of Premium Motor Spirit (PMS), commonly known as petrol.

This was contained in a statement signed by the NNPC Ltd. Chief Corporate Communications Officer, Olufemi O. Soneye, and made available to the media on Wednesday.

The statement read further, "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," it concluded.