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No Need For Panic Buying, Over 1bn Litres Of Petrol In Stock – NNPC

No Need For Panic Buying, Over 1bn Litres Of Petrol In Stock – NNPC

The Nigerian National Petroleum Corporation (NNPC) has appealed to
Nigerians to ignore rumors of an impending scarcity of petrol in the
country and stop panic buying.

Fuel stations in many parts of the country have been beseiged by
Nigerians who are stocking petroleum products in their vehicles and
homes following rumors that the commodities might soon be scarce.

However in a statement released by its Group General Manager, Group
Public Affairs Division, Ndu Ughamadu, NNPC  said that the report of an
impending fuel scarcity due to the purported refusal by some oil
marketers to lift products from depots was “fake news”.

The corporation said over one billion litres of petrol were in stock
while imports of 48 vessels of 50 million litres each have been
committed for the month of April alone.

It further gave assurance that there was no need for panic buying or hoarding of petroleum products in anticipation of scarcity.

The corportaion also stated that the approved pump price of petrol remained N145 per litre.

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