NNPC cautions against hoarding of petroleum products
The Management of the Nigerian National Petroleum Corporation, NNPC, on Thursday, dismissed the reports of looming fuel scarcity.
A statement issued in Abuja by the General Manager, Public Affairs Division, NNPC, Omar Ibrahim, advised members of the public not to panic.
It said that the NNPC, in spite of the unending challenges posed by pipeline vandalism and product theft, had enough stock of products in its marine reserve and national strategic reserve.
“What the corporation has in stock is enough to make the country remain wet with petroleum products round the clock,” Mr. Ibrahim said.
The statement cautioned members of the public against any form of hoarding or panic buying of petroleum products in anticipation of scarcity.
The Major Oil Marketers Association of Nigeria, MOMAN, had said inability of the Petroleum Product Pricing Regulatory Agency, PPPRA, to approve import allocation posed serious scarcity challenges to country.
The executive secretary of the association, Obafemi Olawore, said on Monday that the Apapa depot, which controlled about 43 per cent of national demand, had only five days fuel sufficiency in stock.