The Nigerian National Petroleum Company (NNPC) Limited (Ltd) has advised Nigerians to refrain from engaging in panic buying of Premium Motor Spirit (PMS), also known as fuel/petrol.
This was disclosed in a statement issued by the Chief Corporate Communications Officer of NNPC Ltd, Olufemi Soneye on Tuesday.
“As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product.
“In filling stations monitored across several states, including Lagos and the FCT, the queues have since thinned out, a development that will keep improving daily in other States,” the statement reads in part.
The NNPC Ltd. said that it currently has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency.
It stressed that it is collaborating with relevant downstream agencies, such as the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives, to address hoarding and other unwholesome practices.
