The Nigerian National Petroleum Company (NNPC) Limited has said that it currently has 2.1 billion litres of petrol, assuring that it plans to close the month of March with about 2.8 billion litres of the product, which can last for 47 days.
The assurance by the state-owned oil giant was due to reports of a resurgence of fuel scarcity in the Federal Capital Territory.
This was made known in a statement issued by the Chief Corporate Communications Officer of NNPC Limited, Garba Deen Muhammad, where he said the pocket of scarcity was due to a restriction of movement during the February 25 elections.
Muhammed noted that out of the 2.1 billion litres of petrol stock, 0.9 billion litres are in the land depots nationwide, while 1.2 billion litres are on marine vessels, representing an equivalent of 35 days sufficiency as of March 4, 2023.
What the NNPC Spokesman is saying
- NNPC in the statement said, “Latest updates released on Saturday show a total of 2.1 billion litres of PMS stock, representing 0.9 billion litres in all the land depots nationwide and 1.2 billion litres on marine vessels, which is equivalent to 35 days sufficiency as of 4th March 2023.
- “We plan to close the month of March 2023 with about 2.8 billion litres, which is equivalent to 47 days of sufficiency.”
- “The appearance of pockets of queues in Abuja and some parts of the country, is largely due to restrictions in businesses and movement, to allow for the conduct of the Presidential and NASS elections and enable Nigerians to exercise their civic right. However, operations have now resumed at the depots and trucks are being dispatched to various parts of the country.
- ’We expect normalcy to be restored in the next few days.
- ‘’NNPC Ltd and all its partners and stakeholders, said the Chief Communications Officer, will continue to work together to ensure seamless distribution of petroleum products around the Gubernatorial and State Assembly elections.’’
He advised Nigerians not to engage in panic buying.
For the records
- NNPC had about 2 weeks ago, said that it had 1.8 billion litres of petrol in stock, a volume that should last for at least 30 days.
- It stated that out of the 1.8 billion litres in stock, 0.8 billion litres are in land depots nationwide, while over 1 billion litres were still inside the vessels.
If you have that much, then why are people suffering this much. Why are you allowing business operations to suffer needlessly. The economy is in deep shit while you corner your subsidy for products not consumed by Nigerians.
NNPCL management should be ashamed of themselves, Federal Government set up NNPCL to refine crude oil and sell finish products, and make more money for government, but you have turn this company to Olu buyer and distributor of imported finish products, wasting our hard earned Dollar on importations of what we can produce locally.
The earlier NNPCL get back on track and make sure all our refineries work the better. We are not impressed by your announcement of availability of millions of liters of imported fuel. Kyari and his teams should be ashame of himself.
The new government should treat NNPCL purely from business perspective and not politics, if you don’t deliver you are fired. Nigeria need money and we can no longer tolerate people in NNPCL wasting our scarce resources.
First no light, next no fuel, now money to even pay for transportation of people, service and goods .