The Nigerian National Petroleum Company Limited (NNPCL) has issued a statement advising citizens against panic buying of premium motor spirit (PMS), commonly known as petrol. The company has reassured the public that it has enough petrol in stock to last for the next 30 days as supply continues to improve across the country. In a press release issued on Tuesday, May 7th, the company stated that measures taken to address supply scarcity have led to a significant reduction in queues at fuel stations nationwide.
The statement read thus" As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product.
In filling stations monitored across several states, including Lagos and the FCT, the queues have since thinned out, a development that will keep improving daily in other states.
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.
The NNPC Ltd is also collaborating with relevant downstream agencies, such as the Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives to address hoarding and other unwholesome practices.
Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd
Abuja.
07 May, 2024"
There has been a shortage of fuel all over the country, which has resulted in the rise of fuel prices. However, as of yesterday, queues have disappeared in most filling stations in Abuja and its surrounding areas, except for the NNPC retail outlets where petrol is sold at a lesser price.
