News

May 8, 2024

Petrol: NNPC assures of 30-days sufficiency as supply improves

Petrol

By Obas Esiedesa, Abuja

Amidst semblance of improvements in the petrol supply situation, the NNPC Limited has assured consumers that it has enough petrol in stock to last for the next 30 days.

Specifically, the Corporation said it has not less than 1.5 billion liters in stock and hence, warned the public against panic buying.

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Findings by Vanguard yesterday showed that queues have disappeared in most filling stations in Abuja and surrounding suburbs except at NNPC retail outlets where petrol is sold for a cheaper amount.

While NNPC outlets and affiliate stations continue to dispense at N617 per litre, stations such as NIPCO (N680), AYM Shafa (N690) and other outlets operated by major marketers adjusted their pump prices higher.

A statement by the Chief Corporate Communications Officer, NNPC Limited, Mr Olufemi Soneye, assured motorists that nationwide supply of petrol will continue to improve in the coming days.

He said: “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 litres stock of PMS, which is equivalent to over 30 days sufficiency. 

“The NNPC Ltd is also collaborating with relevant downstream agencies, such as the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives to address hoarding and other unwholesome practices”.