The Nigerian National Petroleum Corporation (NNPC) has cautioned Nigerians not to engage in panic buying of petrol, saying it has enough product for the country.
The NNPC said this in a late Sunday statement by its Group General Manager, Group Public Affairs Division, Garba Deen Muhammad.
The corporation said the sudden appearance of fuel queues in parts of Abuja was due to low loadouts at depots, which usually happen during long public holidays.
It said it has over of 2.5 billion litres of petrol in stock with the sufficiency of more than 43 days.
The response came amidst reports of a possible fuel scarcity that has dominated the public space.
PREMIUM TIMES reported how fuel queues resurfaced in petrol stations in Abuja, the nation’s capital city, with many motorists scrambling to get the product.
A PREMIUM TIMES correspondent who visited petrol stations around the metropolis Sunday morning found that many filling stations were shut to buyers.
A long queue was seen at NNPC retail outlet at the Central Business District area and Oando in Wuse Zone 1 while Saddi Kamal, MRS Oil, Dan Oil and Danmarna Petroleum Limited, located along Lugbe airport road, were under lock Sunday morning.ⓘ
Many filling stations in the Wuse, Bwari and Lugbe areas of the FCT sold petrol at prices ranging from N162 to N165.
NNPC, which imports virtually all the petrol used in Nigeria, in its statement, said, “The NNPC Ltd notes the sudden appearance of fuel queues in parts of Abuja.
“This is very likely due to low loadouts at depots which usually happen during long public holidays, in this case, the Sallah celebrations.
“Another contributing factor to the sudden appearances of queues is the increased fuel purchases which are also usual with returning residents of the FCT from the public holidays.
“NNPC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in conjunction with our marketing partners have taken necessary measures to ramp up loadouts from all depots.
“We assure all residents of the FCT, and indeed all Nigerians, that we have ample local supplies and national stock in excess of 2.5 billion llitres with the sufficiency of more than 43 days.
“The NNPC Ltd hereby advises motorists not to engage in panic buying as supplies are adequate and will become increasingly evident in the coming days.”
PREMIUM TIMES
