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Phantom fuel crises: NNPC assures of steady supply

The Management of the     Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that the current bank crises currently ravaging the country would in no way affect the supply and distribution of petroleum products across the country.

This was disclosed by the corporation in an online statement made available to Vanguard during the week.
It reads that the Corporation views with utmost dismay, the attempt by some sections of the media to heat up the polity by publishing stories of a looming fuel crises as a result of the purported denial of credit facilities to independent petroleum marketers, by Nigerian banks due to the current sanitization exercise by the Central Bank of Nigeria.

“Many well_meaning Nigerians will recall the products shortage crises caused by the same independent petroleum products marketers in April/may this year when they refused to import products into the country as a result of monies owed them by the Government at that time.

As part of efforts to solve the crises and to forestall a situation where Nigeria will be held to ransom by the same marketers for any reason, the Management of the Corporation, as a responsible corporate citizen, decided to take full responsibility of the importation of products into the country.

This has since helped to restore normalcy in products supply and distribution across the nation. To therefore paint a picture of a looming fuel crisis because of the purported withdrawal of credit facility by banks to marketers is utter falsehood and cheap blackmail.

Independent products marketers have not imported any products since the last crises in May and therefore, cannot claim that their business have been adversely affected as a result of CBN’s actions.

We wish to state emphatically that there is no relationship between the actions of the CBN and importation of petroleum products as the NNPC is fully responsive and proactively ensuring that the nation’s product need is fully met.

We assure Nigerians that there would be no fuel crises because of the CBN’s sanitization of the banking sector. We therefore urge Nigerians not to resort to panic buying as there are adequate petroleum products to last till the end of the year.” it reads in part.


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