Responding to media reports linking the delay to the release of petroleum products import permit for the first quarter of 2014 by the Petroleum Products Pricing Regulatory Agency (PPPRA) as possible reasons for the looming fuel supply scarcity, the NNPC in a statement in Abuja stated that it had adequate stock of petrol in its reservoir.
The statement was signed by the corporation’s acting Group General Manager, Group Public Affairs Division, Dr. Omar Farouk Ibrahim, who asked members of the public to desist from panic purchase of fuel as a result of the development.
Ibrahim noted that the NNPC in spite of the unending challenges posed by pipeline vandalism and product theft has enough stock of products in its marine reserve and national strategic reserve to ensure that the country is supplied with adequate petroleum products round the clock.
He further cautioned members of the public against any form of hoarding or panic buying of petroleum products in anticipation of scarcity.
The Major Oil Marketers Association of Nigeria (MOMAN) had recently notified that the reluctance of the PPPRA to release import permits for the new period was causing a lot of panic in the market, adding that a possible fuel scarcity could be underway with such delay.