The Nigerian National Petroleum Company (NNPC) Ltd has once again urged motorists to refrain from panic buying of Premium Motor Spirit (PMS), also known as petrol. This comes as the nationwide supply and distribution of the product continues to improve.
According to a press release signed by Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the queues at filling stations monitored across several states, including Lagos and the Federal Capital Territory (FCT), have significantly reduced, a development, he said, is expected to continue improving daily in other states as well.
The NNPC Ltd also stated that it currently has over 1.5 billion litres of PMS in stock, which is equivalent to more than 30 days of supply. According to the press statement, this should allay any concerns about potential fuel shortages.
Newsmart also gathered that the NNPC Ltd is working closely with relevant downstream agencies, such as the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labor unions in the sector, and security operatives to address any issues related to hoarding or other unethical practices that may disrupt the smooth supply and distribution of petrol.
The company insists that it is committed to ensuring a consistent and reliable supply of PMS across the country.
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, a press release signed by Olufemi Soneye, Chief Corporate Communications Officer of the NNPC Ltd, stated.
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, the press statement noted, 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.
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