The Nigerian National Petroleum Company Ltd (NNPC) said it is flooding the market with over 2.3 billion litres of petrol until this month end to ease the fuel queues nationwide.
In a statement on Tuesday, the Group Executive Director, NNPC Downstream, Adeyemi Adetunji, said the company understands the current shortage of fuel supply disruptions in many parts of the country, which was caused by the discovery and subsequent quarantine of methanol-blended cargoes of Premium Motor Spirit (PMS), commonly referred to as petrol.
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“To address the situation, over 2.3 billion litres will arrive in the country between now and the end of February 2022. This will restore sufficiency level above the national target of 30 days,” said Adetunji.
The statement said as of Tuesday, NNPC has over one billion litres of petrol in stock, and it is being dispensed at the various filling stations in the country.
“In order to accelerate PMS distribution across the country, NNPC has commenced 24 hours operations at its depots and retail outlets,” the statement added.
NNPC also said Major Oil Marketers Association of Nigeria (MOMAN), Depot Owners & Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the Independent Petroleum Marketers Association of
Nigeria (IPMAN) have commenced 24 hours loading and dispensing activities in some of their designated outlets.
The company said it has also constituted a monitoring team, with the support of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and security agencies to ensure smooth distribution of petrol nationwide.
“NNPC implores Nigerians to avoid panic buying and assures that the ongoing efforts will be sustained to restore normalcy in a few days,” it noted.
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