NNPC urges consumers to desist from panic buying, assures of constant fuel supply

*The Nigerian National Petroleum Company Limited advises consumers not to engage in panic buying as the company has ‘over 1.7 billion litres of petrol in stock, and more product is expected to arrive into the country daily over the coming weeks and months’

Isola Moses | ConsumerConnect

Disproving any plan by the Federal Government to increase the pump price of petroleum products in the West African country, the Nigerian National Petroleum Company (NNPC) Limited has advised the general public not to engage in panic buying of the Premium Motor Spirit (PMS), otherwise known as petrol.

Mr. Garba Deen Muhammad, Group General Manager, Group Public Affairs Division of the company, in a statement issued Monday, November 8, 2021, in Abuja, FCT, said “the NNPC has over 1.7 billion litres of petrol in stock and more product is expected to arrive into the country daily over the coming weeks and months.”

Malam Mele Kyari, Group Managing Director/CEO of NNPC Limited

The company’s Spokesman stated it is, therefore, unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond in Nigeria.

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According to Muhammad, the NNPC is also not aware of any plan by goverment to cause an increase in the pump price of petroleum in the country.

“The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week.

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“In view of these assurances, therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country,” the statement said.

The NNPC added it is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond.