Nigerian National Petroleum Company Limited, NNPCL, yesterday cautioned Nigerians against panic buying of petrol, also, known as PMS.
The warning came on the heels of the lingering petrol scarcity being witnessed across the country.
NNPCL, however, has assured of availability of the product at its major depots.
For some weeks running, vehicular queues at filling stations have become a common sight caused by petrol scarcity.
But in the last couple of days, the queues are beginning to thin out. This was observed especially in Lagos and the Federal Capital Territory, FCT, Abuja.
Recall that scarcity first hit the Abuja and Lagos State over two weeks ago. This was even as it spread other parts of the country.
But allaying the fears of Nigerians, NNPC said it has 1.5 billion litres of the product. The company boasted that if spread volume is at 50 million litres daily, it would last the nation one full month.
This was contained in a statement by NNPCL’s Chief Communications Officer, Olufemi Soneye. He added that the company was collaborating with relevant stakeholders to address hoarding. He noted that the company is also fighting other unwholesome practices in petrol distribution and sales.
Soneye listed the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the oil and gas sector as well as security agencies as some of the stakeholders.
The statement reads: “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.”
