The Nigerian National Petroleum Corporation (NNPC) has advised the public not to engage in panic buying of Premium Motor Spirit, commonly known as petrol.
This was contained in a statement on Monday signed by Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC, in Abuja.
According to the NNPC, it has over 1.7 billion litres of petrol in stock, assuring that more would arrive into the country daily in the coming weeks.
The statement reads: “The general public is hereby adviced 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.
“It is therefore unnecessary to entertain any fear of scarcity of petrol throghout the festive season and beyond.
“The NNPC is also not aware of any plan by goverment to cause an increase in the pump price of petroleum. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has 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 smooth supply and distribution of products to every part of the country during the festive season and beyond.“
