The Nigerian National Petroleum Company (NNPC) Limited has denied reports that it plans to increase the price of premium motor spirit petrol to 1,200 Naira per litre.

Reports emerged yesterday that NNPC will announce a new fuel price increase across the country, a situation that caused uproar on social media.

Reacting to the report, however, the NNPCL, in a statement signed by the Group Communications Officer, Olufemi Soneye, completely disassociated itself from such reports.

NNPCL noted that the company has no plans to increase the commodity's price, urging Nigerians to ignore statements otherwise.

Soneye also denied that the NNPC disputed an alleged subsidy on Premium Motor Spirit (PMS) with independent petrol marketers.

There were reports that fuel marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria clashed with the NNPC over whether the government was still paying subsidies.