The Nigeria National Petroleum Corporation (NNPC) Limited has advised fuel consumers nationwide not to engage in panic buying of Premium Motor Spirit (PMS), saying it has over 1.7 billion litres of the product in stock.
The corporation’s Group General Manager, Group Public Affairs Division, Malam Garba Deen Muhammad, in a statement confirmed that apart from the current stock, more volume of fuel would arrive the country in the days ahead.
He stated: “The public is hereby advised not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol.
“The NNPC has over 1.7 billion litres of petrol in stock and more product is expected to arrive into the country daily over the coming weeks and months.
“It is, therefore, unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond.
“The NNPC is also not aware of any plan by government to cause an increase in the pump price of petroleum.
“The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week.
“In view of these assurances therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country.
“The NNPC is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond”, Muhammad added.
Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has also constituted a task force to check hoarding of products by fuel station operators.
The Chairman of IPMAN, Kano Zone, Alhaji Bashir Danmallam, who gave this hint in Kano stated that the task force would work in collaboration with the NNPC to ensure the availability of fuel at filling stations across the country.
He threatened that any marketer found hoarding products would be seriously dealt with by the leadership of the association
The marketer assured: “IPMAN will not allow some unscrupulous elements within its fold to inflict hardship on innocent Nigerians.”
