Business

No scarcity, we have over 1bn litres of petrol, NNPC assures

As many consumers in the country engage in panic buying of Premium Motor Spirit (PMS), widely known as petrol, out of fear of an impending scarcity, the Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that it has an ample stock of over one billion litres of petrol.

NNPC in a statement issued by its spokesman, Ndu Ughamadu, on Thursday, urged Nigerians to disregard rumours of an impending scarcity of petrol in the country.

It further said such rumours were “tales fabricated by mischief makers with intent to create undue panic in the prevailing sanity in the fuel supply and distribution matrix across the country”.

READ ALSO: Man arrested for transporting fuel from damaged NNPC pipeline

The statement read “The Nigerian National Petroleum Corporation (NNPC) has once again appealed to Nigerians to disregard trending social media report of an impending fuel scarcity due to purported refusal by some oil marketers to lift products from depots.”

The state oil firm reassured Nigerians that it already has an ample stock of over one billion litres of petrol, with over two billion litres secured for April through imports of 48 vessels with each having a capacity of 50 million litres of petrol.

It said there was “no need for panic buying or hoarding of petroleum products in anticipation of a phantom scarcity.”

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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