ABUJA/Nigeria: In a bid to allay fears of fuel scarcity, the Nigerian National Petroleum Company (NNPC) Limited has reiterated its call for motorists to refrain from panic buying of Premium Motor Spirit (PMS), popularly known as petrol.
Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, through its verified social media handle, X ( formerly Twitter)n emphasized this stance in a press release on Tuesday, May 7, 2024. He affirmed that the situation at filling stations across several states, including Lagos and the Federal Capital Territory (FCT), has significantly improved, with queues thinning out. Soneye assured that this trend would continue to ameliorate 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,” Soneye confirmed.
NNPC Ltd. is actively collaborating with relevant downstream agencies, such as the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labor unions in the sector, and security operatives, to combat hoarding and other unwholesome practices.
“We urge motorists to avoid panic buying as there is enough stock of PMS to meet the nation’s needs,” Soneye emphasized.
The NNPC’s reassurance comes amidst lingering concerns over fuel scarcity and hoarding, which had triggered long queues at petrol stations in recent weeks. The corporation’s concerted efforts to bolster supply are now yielding positive outcomes across various states.
