Long queues of motor vehicles have formed at petrol stations in the capital, Abuja, and other cities amid reports of a fuel scarcity.
However, the state-owned oil company, the Nigeria National Petroleum Corporation, has said that fuel and other petroleum products are available.
It also said it does not intend to increase pump prices.
The company attributed the queues to panic buying by motorists.
Nigeria is the largest producer of crude oil but is unable to refine petroleum products enough to serve its citizens.
It imports millions of litres of refined products daily for domestic consumption, and analysts say corruption is widespread in the industry.
Nigerians have suffered perennial fuel shortages, especially during festive periods, sometimes leaving many travellers stranded.