NNPC advises against panic buying of petrol

Posted by News Express | 14 October 2015 | 5,033 times

Gmail icon

The Nigerian National Petroleum Corporation (NNPC) has advised members of the public to avoid panic buying of petroleum products, especially premium motor spirit (petrol).

This is contained in a statement by NNPC’s Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, in Abuja on Tuesday.

According to the statement, NNPC says there is enough stock of the PMS product to maintain the entire country for 23 days.

The statement said NNPC gave the assurance against the backdrop of emerging queues noticed at some filling stations in the Federal Capital Territory, arising from rumours of impending scarcity.

It said that the meeting of the corporation with oil marketers association was to ensure that they keyed into the uninterrupted fuel supply policy of the administration.

The statement noted that NNPC had set up a monitoring team at the Pipeline and Products Marketing Company (PPMC) to check sharp practices that could impede the distribution and supply system.

According to the statement, the quantity of petrol stock in its depots across the country is 927,461,000 litres.

It reiterated that the available stock would serve the country for the next 23 days if no drop of the PMS product was imported within the period.

The statement warned marketers not to engage in products hoarding and diversion as the PPMC monitoring team had been empowered to sanction anyone found defaulting in that regard.

It also called on members of the public to discountenance the rumour of the reduction of the pump price of petrol to N57 per litre, adding that the price of the product remained N87 per litre. (NAN)

*Photo shows NNPC logo.

Source: NewsExpress

Readers Comments

0 comment(s)

No comments yet. Be the first to post comment.

You may also like...