The Nigerian National Petroleum Company (NNPC) Limited has said that motorists should refrain from panic buying Premium Motor Spirit (PMS), commonly known as petrol, as the supply and distribution of the product continue to improve nationwide.
In various states, including Lagos and the Federal Capital Territory (FCT), the long queues at filling stations have significantly reduced. This indicates a positive trend that is expected to continue across other states.
NNPC Ltd reassures the public that it currently maintains a substantial stockpile of over 1.5 billion litres of PMS, ensuring a sufficiency of over 30 days. This abundance in stock is a testament to the company’s commitment to meeting the nation’s fuel demand and alleviating concerns of scarcity.
Moreover, NNPC Ltd emphasizes its collaborative efforts with relevant downstream agencies, such as the Nigerian Midstream & Downstrlabouretroleum Regulatory Authority (NMDPRA), labour unions in the sector, and security operatives, to combat hoarding and other illicit practices that may disrupt the smooth distribution of petrol.
Commenting on the matter, Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, said: “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 litre es stock of PMS, which is equivalent to over off ys sufficiency.
“The NNPC Ltd. is also collaborating with relevant downstream agencies, such as the Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives, to address hoarding and other unwholesome practices.”
As the nation continues to find ways of resolving challenges related to fuel distribution, NNPC Ltd urges motorists and the general public to remain calm and avoid succumbing to panic buying, assuring that adequate measures are in place to sustain the availability of petrol nationwide.