Over 1.7bn litres of PMS in stock, says NNPC

The Nigerian National Petroleum Company (NNPC), on Monday, assured that it has over 1.7 billion litres of Premium Motor Spirit (PMS) commonly known as petrol in stock.

It also disclosed that it is expecting more products into the country over the coming weeks and months.

The Company gave the assurance in a statement issued by its Spokesperson, Mr Garba Deen Muhammad, in Abuja.

It said the assurance became imperative to guide against panic buying of petroleum products by motorists and other consumers of petroleum commodity.

The statement read in part: “The general public is hereby advised not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol.

“The NNPC has over 1.7 billion litres of petrol in stock and more product is expected to arrive into the country daily over the coming weeks and months.”

It is there was no need to entertain any fear of scarcity of petrol throughout the festive season and beyond.

“The NNPC is also not aware of any plan by the government to cause an increase in the pump price of petroleum. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week,” it added.

In view of these assurances, the NNPC urged motorists and other consumers of petrol to maintain their regular pattern of purchase.

“The NNPC is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond,” it assured.

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Over 1.7 billion litres of PMS in stock, says NNPC