NNPC Cautions Against Panic Buying of Fuel, Says 30 Days Sufficiency Intact

As the nationwide fuel crisis persists with supply and distribution of Premium Motor Spirit (PMS), also known as petrol, believed to be improving, the Nigerian National Petroleum Company (NNPC) Limited has assured Nigerians to avoid panic buying of the product, noting that it has enough stock of the essential product that can last for the next one month.

Open Television Naija gathered that many filling stations monitored across several states, including Lagos and the FCT, the queues have since thinned out significantly especially in NNPC owned stations across the country.

O TV also reports that the Chief Corporate Communications Officer, NNPC Ltd, Mr.Olufemi Soneye, in a press release on Tuesday, said that, at the moment, the company has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency.

According to him, the NNPC is also collaborating 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.

Open Television Naija reports that the long, snake-like queues in NNPC owned filling stations still persists in most parts of Abeokuta, the Ogun state capital and most states in the South West zone of the country while other non-NNPC owned stations are selling the product at prices ranging between N850 and N1,000. 

Open Television could not secure official situation reports on fuel supply within Ogun state from the Abeokuta field office of the Nigerian Mainstream and Downstream Regulatory Authority (NMDPRA) as at the time of filing this report.