Fuel Scarcity: NNPC, PPMC caution against panic buying

Posted by News Express | 15 November 2015 | 4,267 times

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The Nigerian National Petroleum Corporation (NNPC) and the Pipelines and Product Marketing Company (PPMC) have assured Nigerians that there is enough petrol to sustain the country’s 40 million litres daily sufficiency.

The corporation said there was no cause for panic buying, as the available Premium Motor Spirit would last until November supplies are made in the next few weeks. According to the NNPC, the expected imports will last until December.

Also emphasising the NNPC’s statement, the Executive Director, Commercial of the PPMC, Mr Justin Ezeala, said daily supplies of petrol to petrol stations across the nation had  been sustained, with over 600 million litres that would last 16 days.

Mr Ezeala said the PPMC could not explain why the queues were building up, but urged Nigerians to report any sharp practice, such as hoarding and sales above the pump price of 87 Naira per litre so that such defaulters could be punished.

The build-up of queues at petrol stations across Nigeria had become a sight too many in the recent past.

The inception of the present government early June was marked by a scarcity of Premium Motor Spirit, lasting a few weeks and blamed on outstanding debt owed oil marketers.

A few weeks to Christmas, the queues are slowly returning.

An eyewitness stated that “Vehicle owners on long queues across the Federal Capital Territory, have different reasons for their determination to fill their tanks, most of which centred of apprehension that there would be scarcity.”

To douse this apprehension, the management of the NNPC and PPMC said there was no reason for panic buying, as there was enough petrol to last the oil-rich nation several weeks, with a constant daily dispatch across states. (Channels TV)

•Photo shows Dr Kachikwu.


Source: News Express

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