NNPC Releases Additional 538million Litres Of PMS

The Nigerian National Petroleum Company has released additional 538 million litres of Petroleum Motor Spirit into the Nigerian market.

The move is part of measures aimed at addressing the recent queues experienced in some filling stations across the country.

The NNPC had in recent times introduced several innovations to bring back normalcy in the supply of PMS.

It last week advised about 48 retail stations to operate for 24 hours daily so as to increase the supply of petrol to Nigerians.

The release of the 538 milion litres is in addition to the 387.59 million litres and 381 million litres which the NNPC had distributed to Nigerians in the last two weeks.

Of the 538 million litres, 93.65 million litres were evacuated by Pinnacle-Lekki, the highest beneficiary, while AITO received 26.947m litres.

Also, A.A. Rano received 23.9 million, while Matrix and NIPCO received 20 million litres each.

A total of 40 depots received the PMS product, according to the NNPC LTD.

The data released by the NNPC showed that 70 per cent of the evacuation took place at the top 20 high loading depots.

The other 20 loading depots evacuated less than 20 per cent of the product, the state owned company said.

The Report also revealed that the NNPC recorded a new average daily evacuation of 76.86 million litres, the highest since January 2022.

The NNPC had last week assured Nigerians that it had sufficient stock of petroleum products for distribution across the country.

It said there are over 1.7 billion litres of PMS both on marine and on the land and there is no plan to adjust the current price of PMS in the market.

The NNPC also called on Nigerians to desist from panic buying and buy what they need per day.