Fuel Scarcity: NNPCL Advises Motorists Against Panic Buying

The Nigerian National Petroleum Company (NNPC) Limited, has assured that it has stock that can cater to all for at least 30 days, advising motorists to avoid panic buying of Premium Motor Spirit (PMS), popularly petrol.

NNPC said the reappearance of queues at some filling stations in Lagos state was due to “reduced Depot loadout in Apapa, Lagos” over a few days.

The company in a statement by its Retail Management assured that the situation has since been addressed and normalcy will return soon as distribution will normalise over the next couple of days.

The statement read, “We assure all Nigerians that there is ample supply with sufficiency of at least 30 days. Motorists are advised to desist from panic buying as distribution will normalise over the next couple of days.”

An independent oil marketer in Akute, Ogun State, Samuel Ogunbiyi, explained that the reduced loadout is not unconnected with the demand pressure on NNPCL since it now has to cater to more marketers.

He said, “Most marketers can no longer afford to import the product presently owing to the high cost of the dollar against the naira. So they all depend on the NNPCL for supply and this is exerting pressure on the oil firm. Remember that the NNPCL has its own extensive retail outlets to cater to first before considering others.”