• Wednesday, July 24, 2024
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We have 2bn litres of petrol, avoid panic buying –NNPC

We have 2bn litres of petrol, avoid panic buying –NNPC

The Nigerian National Petroleum Corporation (NNPC) has said that its petrol stock has increased from 1.7 billion litres recorded initially to over 2 billion litres, assuring adequate supply during the holidays.

The NNPC said: “As a result, we once again urge Nigerians not to panic buy and instead to fully enjoy the spirit of the holiday season, even as we continue to work tirelessly to ensure a sufficient supply of petrol in every part of the country,” the statement said.

Mele Kyari, the group managing director, Nigerian National Petroleum Corporation (NNPC), during this year’s edition of Energy Correspondents of Nigeria (NAEC) had affirmed that Nigerians need not panic as there is a provision for over 1.7 billion litres and the corporation was expecting an additional 2.4 billion litres during the festive period.

“The general 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.”

Read also: ‘Nigeria has six years before electric cars dampen oil demand’

Similarly, Garba Muhammad, the Group General Manager, Group Public Affairs Division of NNPC reiterated in the previous month that NNPC had over 1.7 billion litres of petrol in stock.

“The NNPC is also not aware of any plan by the government to cause an increase in the pump price of petroleum. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) made that declaration.

“Given 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,” he said.

The Nigerian National Petroleum Company Ltd wishes to express its appreciation to Nigerians for always heeding its advisories not to engage in panic buying of petrol.