March 30, 2023

Petroleum Sufficiency: Thanks To NNPC Limited

2 min read

By Adewole Kehinde

It is no longer news that Nigerians have faced fuel scarcity in the weeks leading up to the Christmas holidays in the past.

Due to fuel shortages, travellers frequently pay twice the cost of transportation to their vacation destination.

Fuel scarcity, which has hampered citizens’ productivity in recent years, is primarily due to distribution issues rather than supply.

Meanwhile, available data on the daily truck-out of Premium Motor Spirit on the Nigerian Midstream and Downstream Petroleum Regulatory Authority website also shows that as of 8th December 2022, the daily petrol truck-out to Lagos, Abuja, Port Harcourt, Kano, Delta states were as follows: Lagos – 12,966,087 litres; Abuja – 2,845,996 litres; Port Harcourt – 3,051,000 litres; Kano – 6,000,966 litres and Delta – 3,213,079 litres

These figures show that states are not lacking in supply. So distribution is where the challenges lie.

At the start of the holiday season, the Nigerian National Petroleum Company Limited announced that the country has enough petroleum for more than forty days, which will last through the Christmas holiday season and beyond.

The Nigerian National Petroleum Company Limited stuck to its promise of ensuring an adequate supply of petroleum products throughout the country, particularly during the holiday season.

I must commend the NNPC Limited and its Group Chief Executive Officer for sustaining efforts in collaboration with the Armed Forces, states, and communities to reduce the threat of crude oil theft.

Recalling that the GCEO of NNPC, Malam Kyari has assured Nigerians of an unhindered supply of PMS and other Petroleum Products available during the Yuletide and well into the New Year, he said “I can confirm to you, Hon. Minister we have comfort level supply, we have a line of sight around all our suppliers, and we have confirmation on all our cargo up to the end of December, so we do not see any glitch”

I do not doubt in my mind that through transparency and collaboration that the NNPC Limited will commence domestic refining of Petroleum Products by end of Q2, 2023 to reduce the fiscal deficit by eliminating our dependency on the importation of Petroleum Products which threatens our National Security.

I am urging all stakeholders to ensure adequate supply and distribution of petroleum products throughout the country, particularly as people return from the holiday season.

The Nigerian National Petroleum Company Limited has always ensured that product stock levels are adequate, sufficient, and available to support the various Nigerian families travelling without hindrances.


Adewole Kehinde is an Energy Fellow of the ACCI Policy Center and Public Affairs Analyst based in Abuja. E-mail: 08166240846

Copyright © 2020 Swift Reporters. All rights reserved. | Newsphere by AF themes.