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1.5bn fuel litres now in stock for distribution- NNPC

By Monsurudeen Olowoopejo

As the queue for Premium Motor Spirit (PMS), also known as petrol, persist, the Nigerian National Petroleum Company (NNPC) has disclosed that the queue will disappear in a few days, saying over 1.5 billion litres of the products were already in stock.

NNPC added that the fuel in stock could serve the entire country for another 30 days without causing any scarcity.

The Chief Corporate Communications Officer, Olufemi Soneye, disclosed this on Tuesday through a statement released on Tuesday after motorists raised concerns over hike in fuel prices across metropolis in Lagos and others.

Soneye stated that the fuel were already being distributed to clear the queue across the country.

He stressed that the firm were already collaborating with relevant stakeholders to address hoarding and other unwholesome practices affecting distribution of the products.

According to the statement, As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product.

“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 Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives, to address hoarding and other unwholesome practices”.

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