….Says “We have ample local supplies and national stock in excess of 2.5 billion liters”.
The Nigerian National Petroleum Company (NNPC) Ltd has said petrol was not scarce but there were just queues.
NNPC’s Group General Manager, Group Public Affairs Division, Malam Garba Deen Muhammad said the queue is very likely due to low loadouts at depots which usually happen during long public holidays, in this case, the Sallah celebrations.
“Another contributing factor to the sudden appearances of queues is the increased fuel purchases which are also usual with returning residents of the FCT from the public holidays,” Muhammad said.
The statement read, “NNPC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority in conjunction with our marketing partners have taken necessary measures to ramp up loadouts from all depots.
“We assure all residents of the FCT, and indeed all Nigerians, that we have ample local supplies and national stock in excess of 2.5 billion liters, with the sufficiency of more than 43 days.
“The NNPC Ltd hereby advises motorists not to engage in panic buying as supplies are adequate as will become increasingly evident in the coming days.
In another development, the Independent Petroleum Marketers Association of Nigeria (IPMAN), claimed that the government was owing more than N100 billion in overdue bridging payments.
IPMAN’s National Vice President Alhaji Abubakar Maigandi, said the unpaid debts have resulted in cash constraints, which he said was hampering members’ capacity to procure more products.
They alleged that the N100 billion debt due on procured petrol by the defunct Petroleum Equalisation Fund (PEF), now Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has not been paid despite persistent demand.
