The Nigerian National Petroleum Company Limited (NNPCL) has issued an appeal to the public to refrain from panic buying of petrol, affirming that there is ample supply to meet the country's needs. According to NNPCL, they currently hold a robust stockpile of 1.5 billion liters of petrol, which is sufficient to last for over a month at a daily distribution rate of 50 million liters.
This assurance comes in response to recent disruptions that led to vehicular queues at various filling stations, initially starting in the Federal Capital Territory (FCT) over two weeks ago before spreading to other regions. However, the situation has seen significant improvement, especially in Lagos and the FCT, where queues have notably diminished.
NNPCL's Chief Communications Officer, Olufemi Soneye, in a statement, emphasized the ongoing efforts to maintain smooth distribution across the nation. He pointed out that NNPCL is actively collaborating with key stakeholders, including the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labor unions in the oil and gas sector, and security agencies, to address and prevent any hoarding or other detrimental practices affecting petrol distribution and sales.
Soneye highlighted, “As nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, we urge motorists to avoid unnecessary stockpiling which can induce shortages. The observed queues at filling stations have substantially reduced and will continue to do so as our distribution mechanisms enhance daily.”
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