The Nigerian National Petroleum Company Limited, following the persisting fuel queues across the country has assured that it has no plans of implementing any increase in pump price of petrol.
Mele Kyari, the group managing director of the NNPC Limited disclosed this in Abuja on Wednesday.
According to him, the company currently has over 1.7 billion litres of petrol in stock for distribution.
“Currently we have over 1.7 billion litres of PMS in our hands both in marine and on land. This also means that we now have capacity to load out excessively from all depots. We have put in place measures to ensure 24 hours loading in all depots,” Kyari said.
“This will ensure that scarcity created by panic buying will now be freed so that normalcy will return to filling stations. Typically in situations like this, people go to the filling stations and buy in excess of what they need and this is what additional supply will resolve. I am very sure that very soon we will see relief from this.”
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Kyari, who maintained that there was no plans to increase the pump price of petrol, urged marketers to sell at the approved government price adding that Depot and Petroleum Marketers Association of Nigeria (DAPMAN), NUPENG, PTD and MOMAN and relevant stakeholders have agreed the Corporation to sanction defaulters including anyone who refuse to sell PMS to stations or depots.
“Additionally, the Authority will carry out necessary sanctions allowed by law on any defaulting depot owner and this will ensure that Nigerians will continue to buy the product at the approved price.”
While apologising for the pains Nigerians are experiencing at filling stations, he appealed to consumers to avoid panic buying and to buy only the quantity they need at filling stations.
