NNPC cautions against panic buying

NNPC Limited (NNPCL) has warned motorists and the public against panic buying of Premium Motor Spirit (PMS), commonly referred to as petrol.

In a statement on Tuesday, NNPCL’s Chief Corporate Communications Officer, Mr. Olufemi Soneye said the corporation emphasised that the supply and distribution of petrol across the nation have witnessed significant improvements.

According to Soneye, NNPCL officials have conducted thorough monitoring of filling stations in various states, including Lagos and the Federal Capital Territory, where the queues have notably decreased.

He reassured the public that this positive trend will continue to expand to other states in the coming days.

The statement reads: “The company wishes to state that at the moment, it has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency.

“The NNPC Limited. is also collaborating with relevant downstream agencies, such as the Nigeran Midstream and Downstream Petroleum Regulatory Authority, labour unions in the sector and security operatives, to address hoarding and other unwholesome practices”.

According to Soneye, the move underscores NNPCL’s commitment to ensuring a steady supply of petrol across the country and mitigating any potential disruptions in the fuel distribution chain.

Earlier, NNPCL said it has addressed concerns that surround the current scarcity of PMS.

It added that the scarcity in certain regions of the country stems from logistical challenges, which have since been resolved.