NNPC Reassures Public: No Need for Panic Buying as PMS Sufficiency Remains Stable

By Mohammed Bello Doka

NNPC Ltd, Nigeria's leading petroleum corporation, has once again stepped forward to reassure the public amidst concerns over fuel scarcity. In a recent statement issued by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, the company emphasized the stability of Premium Motor Spirit (PMS) supply and urged motorists to avoid panic buying.

The nationwide distribution of PMS has seen a notable improvement, with queues at filling stations gradually dissipating in various states, including Lagos and the Federal Capital Territory (FCT). This positive trend is expected to continue and extend to other states, providing relief to motorists who have faced challenges accessing fuel in recent weeks.

Backing its assurance with concrete figures, NNPC Ltd disclosed that it currently holds a substantial stockpile of over 1.5 billion litres of PMS, ensuring over 30 days of sufficiency. This surplus stock serves as a buffer against supply disruptions and reinforces the company's commitment to meeting the nation's fuel demands.

Moreover, NNPC Ltd has embarked on collaborative efforts with key stakeholders, including the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labor unions in the sector, and security agencies, to combat hoarding and other illicit practices that could exacerbate fuel scarcity.

This proactive approach underscores NNPC Ltd's dedication to ensuring the smooth and uninterrupted availability of petroleum products across the country. By fostering transparency, cooperation, and effective distribution mechanisms, the company aims to alleviate concerns and instill confidence in the public.

As Nigeria continues to navigate challenges in its energy sector, NNPC Ltd remains steadfast in its mission to uphold reliable fuel supply, safeguarding the interests of motorists and promoting economic stability.