The Nigerian National Petroleum Company (NNPC) Ltd. says it has over 1.5 billion litres stock of Premium Motor Spirit (PMS), also known as petrol, which will last for over 30 days.
The Chief Corporate Communications Officer of NNPC Ltd, Mr. Olufemi Soneye said this in a statement on Tuesday.
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The company called on motorists to shun panic buying of the product as the nationwide supply and distribution of PMS continued to improve across the country.
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“In the 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.
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“The NNPC Ltd. is also collaborating with relevant agencies, such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives to address hoarding and other unwholesome practices,” he said.
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Why is there fuel scarcity in Nigeria?
The Nigeria National Petroleum Corporation has blamed the lingering fuel scarcity in the country on panic buying and sharp practices by some petroleum marketers who are exploiting the present situation to make more money.
