NNPC advises Petroleum products Consumers against panic Buying


The Nigerian National Petroleum Corporation assures the nation of having more than enough fuel to last for more than two months



The Nigerian National Petroleum Corporation, NNPC, has assured petroleum products consumers across the country not to engage in panic buying as it holds 2.6billion litres of Premium Motor Spirit otherwise called petrol and 90,000 metric tonnes of Dual Purpose Kerosene, Diesel, saying the holding is expected to last 52 days, assuming no single drop of products is imported from now.

Ndu Ughamadu, the NNPC group general manager, Group Public Affairs, in a release today in Abuja said the purported shut down of operations by Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, would not affect products distribution as the NNPC has ordered all its depots across the country and those of bulk purchase Marketers it recently entered agreements with to undertake a 24-hour operations to avert any shortages in products distribution in the country.

Ughamadu stated: “All NNPC depots, Petroleum Products Marketing Company, PPMC, throughput partner depots, the Major Marketers depots and depots of Depot and Petroleum Products Marketers Association of Nigeria, DAPMAN, members who signed the Bulk Purchase Agreement, BPA, with the PPMC as well as NNPC Retail stations, Major Marketers Association of Nigeria, MOMAN, and Independent Petroleum Marketers Association of Nigeria, IPMAN, filling stations, will continue to operate at maximum levels to ensure uninterrupted distribution of petroleum products nationwide.

The statement said despite the threats by DAPPMAN government was committed to going ahead with settling the N236bn first tranche of the verified subsidy claims of the Oil Marketers in line with the approval of Federal Executive Council, FEC, and National Assembly, NASS, by Friday, December 14, 2018 as noted by Henry Nkem Obih, the corporation’s chief operating officer, Downstream, in a statement recently.

The NNPC spokesperson advised members of the public to report to offices of the Departments of Petroleum Resources, DPR, across the states any fuel stations which attempts to take advantage of the situation to inflate products price, saying that the price of PMS remains N145 per litre.

– Dec. 10, 2018 @ 14:05 GMT |

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