Fuel scarcity: NNPC cautions against panic buying

05 September 2012, Sweetcrude, ABUJA – THE management of NNPC said it had 30 days stock of petrol and cautioned against panic buying by consumers.

Mr Omar Ibrahim, General Manager, Media Relations of NNPC, said this in Abuja and debunked insinuations that the Federal Government had increased the price of fuel.

Ibrahim said that the artificial scarcity might have been instigated by some oil marketers.

“I can tell you that the Federal Government has not increased the price of fuel. This scarcity might have been instigated by this oil marketers who have disagreement with government.

“The NNPC through the PPMC has ample supply to last 30 days to the whole country,” he said.

Investigations showed that most of the oil marketers have run out of stock of the product and consequently increased the pump price of the product.

Ibrahim said it was only the NNPC that had been importing fuel into the country since the beginning of the year as the marketers had stopped over their subsidy payment.

He said the NNPC was fast-tracking the process of supply of the product to its various depots in Lagos, Calabar, Warri and Port Harcourt.

Ibrahim expressed optimism that the situation would soon be resolved so that the marketers could complement imports by NNPC.

The long fuel queues started springing up in most parts of Abuja and environs on Monday, barely a week after a similar experience caused by the NUPENG strike and unpaid subsidy claims.

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