Nigerian National Petroleum Corporation has enjoined motorists in Abuja and its environs, and indeed the federation, not to engage in any panic buying of petroleum products.
NNPC assures motorists that the Corporation has 1.3billion litres stock of PMS, otherwise called petrol, which is sufficient to serve the nation for more than 38 days.
This plea came on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government was about to increase the pump price of the white product from N145 per litre.
NNPC dismissed the rumour. It said there is no iota of truth in it that government is scheduled to adjust pump price of petrol.
“Indeed, with the resumption of production by the Corporation’s three refineries in Kaduna, Port Harcourt and Warri, complemented by imports, there is enough stock of PMS, Automotive Gas Oil (AGO), diesel and kerosene, ”NNPC said.
”This much was explained yesterday by NNPC Chief Operating Officer of the Refineries, Mr. Anibor Kragha while briefing the Senate Committee on Petroleum Downstream in a presentation on the current status of the refineries at the National Assembly Complex in Abuja.
”In the presentation, Kragha told the legislators that the nation’s three refineries produced additional volumes of 4.6 million litres of kerosene and 7.7 million litres of diesel, in addition to millions of litres of petrol being refined daily at the nation’s refineries.
”The assurances of availability of stock by the NNPC Chief Operation Officer of the Refineries yesterday still stand”, added Ndu Ughamadu, the Group General Manager, Public Affairs.
