The Department of Petroleum Resources (DPR), has allayed the fear of possible fuel scarcity, as it assured that there is enough level of petroleum products that will sustain the country till the year runs out.
Nairametrics understands that there had been fears of possible fuel scarcity, following petroleum marketers’ failure to load at depots for days into the weekend.
Dismissing the rumour, Operations Controller, DPR, Lagos, Wole Akinyosoye said the government is on top of the situation after meeting with the Independent Petroleum Marketers Association of Nigeria (IPMAN).
[READ ALSO: UPDATE: President Buhari retains portfolio as Petroleum Minister]
Akinyosoye explained that the petroleum marketers’ failure to load on Wednesday, Thursday and Friday is no cause for any impending fuel scarcity in the country.
” As I am talking with you, we have a storage of more than two weeks supply, and as I am talking vessels are berthing and they are discharging to their depots. So, the issue of scarcity is really not in the horizon. We reiterated this last December to let people know that scarcity is not in the offing and we are still repeating that every avenue where scarcity could happen has been blocked.
“We really want to appreciate all stakeholders in the industry in ensuring uninterrupted supply of petroleum resources since the beginning of the year,” he added.
Warning: The DPR also cautioned marketers against selling above the approved pump price of N145 per litre, as it threatened that any petroleum marketer found to be selling Premium Motor Spirit (PMS) above the stipulated pump price of N145 per litre or causing a hitch in the supply chain will be severely dealt with in accordance with the law.
Meanwhile, the Petroleum Product Pricing Regulatory Agency (PPPRA) had put the country’s daily supply of petrol at 56 million litres. In a statement by the agency’s Executive Secretary, Abdulkadir Saidu, PPPRA said that daily supply of petrol in the country grew from 46 million litres per day in 2017 to 54 million litres in 2018 before peaking at 56 million litres in 2019.
[READ ALSO: Zimbabwe gives Benedict Peters’ Bavura Holdings a platinum mining concession(Opens in a new browser tab)]
