Finance

Fuel scarcity: Fg says NNPC has sufficient PMS to last over 47 days


The Federal Government disclosed that despite the fuel queues that developed in the Federal capital, Abuja this week, the Nigerian National Petroleum Company Ltd, NNPC has Premium Motor Spirit (Petrol) that can last over 47 days.

This was disclosed in a statement issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday.

According to the agency, the nation has 2.65 billion litres of fuel and that will last for 47 days.

What NMDPRA said:

It stated, “We wish to assure the public that NNPC has sufficient PMS to last over 47 days, translating to about 2.65 billion litres

“Therefore, there is no need to panic as the current situation being experienced in some parts of the country will soon stabilise.”

The agency also revealed that to address the queues, some loading depots have been directed to operate on extended hours to enable increased truck-outs, citing that in the interim, “the vessel discharge operations have been reviewed to fast track truck loading and distribution in order to meet increased demand.”

What you should know

Nairametrics reported earlier this week that the Nigerian National Petroleum Company Ltd, NNPC, stated that the recent fuel queues in Abuja is likely caused by low loadouts at depots, which usually happens during long public holidays

The NNPC Ltd notes the sudden appearance of fuel queues in parts of Abuja. This is very likely due to low loadouts at depots which usually happen during long public holidays, in this case, the Sallah celebrations.

Another contributing factor to the sudden appearances of queues is the increased fuel purchases which is also usual with returning residents of the FCT from the public holiday,”  it said.





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