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THE Major Oil Marketers Association of Nigeria, MOMAN, has faulted the claim by the Nigerian National Petroleum Corporation, NNPC, that it has a stock of 1.2 billion litres of petrol. Obafemi Olawore, executive secretary, said such volume of petrol is equivalent to about 300 imported vessels, adding that there was nowhere in the country where such products could be stored.

He noted that by saying that they have 1.2 billion litres in the country; the corporation is simply saying that they have approximately 300 ships loaded with petrol. Olawore challenged the NNPC to disclose where the stock of 1.2 billion litres is stored, adding that if the corporation gives the products to the marketers, they would distribute it to Nigerians.

“You are talking about the NNPC; NNPC said they have 1.2 billion litres but anybody, who tells you that, you should ask him where the stock is. They should tell us where the stock is located. Remember that I told you that if they give it to us, we will distribute because we are not fighting the Nigerian public. What we are saying is that they should pay us our money. Because of the love we have for Nigeria, if the NNPC gives us products, we will distribute but I can tell you that 1.2 billion litres is about 8.9 million metric tonnes, which is equivalent to 298 ship load of petrol because each vessel carries 30,000 metric tonnes,” he said.

Olawore stated that the petrol in circulation at the moment was the one imported by the NNPC, adding that because the volume is very small, many tankers are struggling and causing traffic congestion in Apapa.

The NNPC had in a recent statement stated that its downstream subsidiary, the Pipelines and Products Marketing Company, PPMC, had 1.2 billion litres of petrol in stock. According to the statement, the figure translated to 31 days sufficiency, going by the 40 million litres daily consumption of the product in the country.

— Jun 1, 2015 @ 01:00 GMT

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