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No need for panic buying, nearly two billion litres of PMS in stock – NNPC




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THE Nigerian National Petroleum Corporation (NNPC)  has advised Nigerians against panic buying of premium motor spirit (PMS), assuring that 1.7 billion litres of the product are in stock to cater for the yuletide celebrations.

The corporation’s assurance is coming on the heels of the build-up of queues experienced at various filling stations across the Federal Capital Territory and its environs at the weekend.

In a statement issued on Monday, the corporation told Nigerians that there was no need for panic buying of the product as it had more than enough in stock, assuring that more were still coming into the country.

“The general public is hereby advised not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol.

“The NNPC has over 1.7 billion litres of petrol in stock and more product is expected to arrive into the country daily over the coming weeks and months.”

The corporation stressed that it was unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond.

Group General Manager in charge of Public Affairs Division Garba Deen Muhammad said in a statement that the NNPC was also not aware of any plan by the government to cause an increase in the pump price of petroleum.

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He clarified that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had made that declaration last week.

“In view of these assurances, therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country.”

The NNPC is also engaging all stakeholders to ensure the smooth supply and distribution of products to every part of the country during the festive season and beyond.


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