The Nigerian National Petroleum Company Limited, NNPCL, has urged motorists to refrain from panic buying of Premium Motor Spirit, PMS, commonly known as petrol.
This was disclosed in a statement on Tuesday by its Chief Corporate Communications Officer, Olufemi Soneye.
“Across various states, including Lagos and the Federal Capital Territory, FCT, a noticeable reduction in queues at filling stations has been observed, indicating an ongoing improvement in supply that is expected to continue in other regions.
“With an extensive stockpile exceeding 1.5 billion litres of PMS, equivalent to more than a 30-day sufficiency, NNPC emphasizes the ample availability of the product.
“Additionally, the company is actively engaged in collaborative efforts with key downstream agencies like the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labor unions within the sector, and law enforcement agencies to combat hoarding and other illicit activities that disrupt the smooth distribution of petroleum products,” the statement said.
This is coming less than three days after petroleum marketers said the NNPCL had opened its reserves across the federation to end the lingering fuel scarcity.
DAILY POST recalls that for weeks, Nigerians battled fuel scarcity despite NNPCL’s initial assurance of the availability of the product.