The Nigerian National Petroleum Company (NNPC) Limited has reiterated its call for motorists to refrain from panic buying of Premium Motor Spirit (PMS), also known as petrol, as the nationwide supply and distribution of the product continue to improve.
In a statement issued on Tuesday in Abuja by its Chief Corporate Communications Officer, Olufemi Soneye, the national oil company emphasized that queues at filling stations across several states, including Lagos and the Federal Capital Territory (FCT), have significantly reduced.
The NNPC disclosed that it currently maintains a stock of over 1.5 billion litres of PMS, ensuring over 30 days of sufficiency in supply.
The statement read: “As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product.
“In filling stations monitored across several states, including Lagos and the FCT, the queues have since thinned out, a development that will keep improving daily in other States.
“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 Ltd. is also collaborating with relevant downstream agencies, such as the Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives, to address hoarding and other unwholesome practices.”
