NNPC Assures Nigerians: 1.5 Billion Litres of Petrol Available, Urges Against Panic Buying
Written by Deborah Oyinloye on May 8, 2024
In a bid to allay fears amidst recent petrol scarcity concerns, the Nigerian National Petroleum Company (NNPC) Limited has issued a reassuring statement, emphasizing its abundant stockpile of over 1.5 billion litres of premium motor spirit (PMS), commonly known as petrol.
Mr. Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, underscored the importance of avoiding panic buying, noting that the queues witnessed at various filling stations across the country, including Lagos and Abuja, have notably diminished. Soneye assured that this positive trend will continue to improve across other states as well.
Highlighting the current ample supply, Soneye affirmed, “The company wishes to state that at the moment, it has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency.”
NNPC Ltd is actively collaborating with relevant downstream agencies, including the Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labor unions in the sector, and security operatives, to address hoarding and other unethical practices that may disrupt the seamless distribution of petroleum products.
The recent resurgence of queues at filling stations, coupled with transport cost hikes, has prompted concerns among consumers. However, NNPC has attributed the situation to logistical challenges, assuring the public that these issues have been successfully resolved.
Moreover, NNPC’s commitment to resolving supply shortfalls has been reiterated, with assurances that the ongoing scarcity will be alleviated by May 1st, as previously communicated.
Festus Osifo, President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has shed light on the root cause of the current petrol scarcity, citing contractual issues between mother and daughter vessels.
In light of NNPC’s proactive measures and abundant stock, Nigerians are urged to refrain from panic buying and trust in the steady supply of petrol across the nation.
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Author: Deborah Oyinloye
With an interest in media, Deborah aims to impart the lives of people positively.
