The Nigerian National Petroleum Company Limited (NNPCL) has announced that it currently has over 1.5 billion litres of Premium Motor Spirit (PMS) petrol in stock, enough to last over 30 days at the average national consumption rate of 50 million litres per day. The company issued a statement through its chief communications officer, Olufemi Soneye, urging the public to refrain from panic buying, as the scarcity of the product is already easing in Lagos and the Federal Capital Territory (FCT).
According to the statement, NNPC Ltd is working in conjunction with relevant downstream agencies, including the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector, and security operatives to address hoarding and other unwholesome practices. The company emphasized that it is committed to ensuring the steady supply and distribution of PMS across the country.
The statement also noted that queues at filling stations have significantly reduced in several states, and this trend is expected to continue improving. NNPC reiterated its assurance to the public that there is an ample supply of petrol and encouraged motorists to avoid panic buying, as there is no need for concern regarding fuel availability.
