The Nigerian National Petroleum Corporation (NNPC) Limited has once again called on motorists to shun panic buying of petroleum product.
NNPC made the call as the nationwide supply and distribution of petrol continue to improve.
The Corporation’s spokesperson, Olufemi Soneye, in a statement on Tuesday said filling stations monitored across several states, including Lagos and the FCT, shows that queues have since reduced.
Soneye said it is a development that will keep improving daily in other States.
He stated that the Corporation has over 1.5 billion litres stock of petrol, which is equivalent to over 30 days sufficiency.
He added that the NNPC Ltd is also collaborating with relevant downstream agencies, such as the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives, to address hoarding and other unwholesome practices.
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In April queues surfaced at filling stations in some states across Nigeria on with the price of a litre of petrol also increasing.
In Lagos, some commercial drivers and car owners said they bought a litre of fuel for N800 naira.
Also, a litre of petrol was sold for around N1,000 in some other states across the country and Abuja.
NNPC said logistics issues was to blame for the tightness in the supply of petrol.
“The Nigerian National Petroleum Company Limited (NNPC Ltd.) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved.”
