The Nigerian National Petroleum Corporation (NNPC), has clarified allegations that there is fuel scarcity which had resulted to panic buying of the product in some states.

There were also claims from fuel retailers that the ex-depot price of the product had been increased by private tank farm owners from the recommended N148-N149.5/litre to between N153 and N155/litre.

NNPC General Manager Mele Kyari, reacting to these claims, admitted that there are pricing issues currently, he however, refuted claims of fuel scarcity and hike in pump price.

Kyari made this clarification while delivering a presentation at a conference organised by energy correspondents in Lagos on Tuesday.

“As we speak now, there is speculation of fuel scarcity within the media, but we have over 1.7 billion litres of Premium Motor Spirit in the country. We have another 2.3 billion litres coming in; so there is no shortage in supply as being speculated.

“Of course, there are issues about pricing at some depots but government has no plan to revise the pricing structure” Kyari said.