Fuel Scarcity: NNPC cautions against panic buying

The Nigeria National Petroleum Company Limited (NNPC Limited) has cautioned motorists against panic buying, saying it has over 1.5 billion litres of PMS, equivalent to over 30 days of sufficiency.

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A statement signed by NNPCL’s Chief Corporate Communications Officer (CCCO), Olufemi Soneye, and made available to Tribune Online said that while there has been improvement in the nationwide distribution of fuel and queues are gradually disappearing, the NNPC would continue to collaborate with relevant downstream agencies such as the Nigeran Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector, and security operatives to address hoarding and other unwholesome practices.

“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 of PMS stock, which is equivalent to over 30 days of sufficiency.

“NNPC Ltd. is also collabourating with relevant downstream agencies, such as the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector, and security operatives, to address hoarding and other unwholesome practices,” the statement read.

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