NNPC Says It Has No Plan To Increase Price Of PMS, Assures Of Sufficient Supply

As fuel scarcity persists in major cities of the country, the Nigerian National Petroleum Company (NNPC) Limited, has once again assured Nigerians that it has sufficient stock of petroleum products for distribution across the country.

The corporation stated that it has over 1.7billion litres of PMS both on marine and on the Land and do not have any plan to adjust the current price of PMS in the market.

The Group Managing Director, Nigeria National Petroleum Corporation Limited (NNPC) Malam Mele Kyari gave the assurance while at a joint news briefing with Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), in Abuja.

The GMD lamented that the current fuel queues at filling stations is as a result of panic paying.

He called on Nigerians to desist from panic buying and buy what they need per day, as he was working assiduously with partners to ensure the product reached every part of the country.

According to him “NNPC is further intensifying efforts to resolve distribution hitches being experienced in some parts of the country due to logistics issues,” , we have engaged depot operators to load product round the clock to accelerate the restoration of normal distribution.”

‘We have capacity now to load from all depots . we are currently running 24 hours loading from all our depots and we believe this will close the gap created by panic buying.

We hope this will bring normalcy to the system soon

The GMD also disclosed that the corporation has engaged the services of government security agencies to ensure that all products loaded get to the right destinations, adding that sanction would be melted to any operator selling above the stipulated pump price.

“We sincerely apologize to our people and urge Nigerians to continue to be patient as we strive to return the situation to normalcy,” he stated

As the supplier of last resort, NNPC has continued to sustain adequate petroleum products supply and distribution to the Nation despite challenges associated with the unending waves of pipeline vandalism, product theft and Cross-border smuggling of PMS”

“In line with the existing laws of the land, NNPC Ltd. is deeply committed to ensuring energy security for the country,” the GMD said

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