Fuel Scarcity : NNPC Warns Against Panic Buying (don't buy at high cost)

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The Nigerian National Petroleum Corporation
(NNPC), yesterday stated that it has enough stock of
Premium Motor Spirit (PMS), also known as petrol,
to serve the needs of Nigerians across the country for
about 17 days. The corporation urged Nigerians to
desist from panic buying of the product.

Speaking in Abuja on the fuel supply situation across
the country, Executive Director, Commercial,
Pipelines and Product Marketing Company, PPMC,
Mr. Justin Ezeala, stated that the country currently
has 656.376 million litres of PMS in its various
storage platform, while it is expecting additional 756.99
million litres of the product before the end of
November.

Ezeala explained that 66.81 million litres are in
PPMC depots; 117.48 million litres in PPMC
throughputs depots; 427.971 million litres of marine
stock and 44.112 million litres are in the depots of
Major Oil Marketers Association of Nigeria
(MOMAN).

In addition, he stated that 380.99 million litres are
expected to be brought in by the PPMC through
import, between now and the end of the November,
while other marketers are expecting 376 million litres.

He maintained that the current stock available in its
depots and reserves are enough to serve the country for
16 days, while the products that are being awaited in
the next couple of days would serve the country for 35
days minimum.

Ezeala disclosed that the NNPC and the PPMC
have increased fuel supply to Abuja and environs and
also across the country and would lift about 180
truckloads of PMS to Abuja from about 135 trucks
daily.

To this end, he encouraged Nigerians to avoid queuing
for fuel if they have no urgent need to buy the product.

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