A Review of the Nigerian Energy Industry

NNPC warns against panic buying, assures of product supply

*Fuel dispenser nozzle.

Ike Amos

11 January 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation (NNPC), Thursday, advised Nigerians against panic buying of Premium Motor Spirit, PMS, also known as petrol, stating that it has enough products to last the country 30 days.

The NNPC, in a statement in Abuja, signed its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said this becomes necessary following some queue noticed in some fuel stations in Abuja and environs.

He said, “NNPC wishes to enjoin motorists in Abuja, its environs and other parts of the country not to engage in any panic buying of petroleum products.

“NNPC assures motorists that the Corporation has robust stock of PMS, otherwise called petrol, which is sufficient to serve the nation for more than 30 days. This plea comes on the heels of queues noticeable in some fuel stations, especially in Abuja.

“Motorists are advised to report any marketer selling above N145 per litre of petrol or hoarding the products to the Department of Petroleum Resources (DPR) which is statutorily empowered to deal with such issues. DPR has offices located in all parts of the country.”

Ughamadu noted that the law enforcement agencies would mete out appropriate sanctions to operators of fuel stations who engage in hoarding or sell products above the recommended band.

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