We have 1.9 billion litres in stock, NNPC assures Nigerians of petrol supply

The Nigerian National Petroleum Corporation Limited has said it has 1.9 billion litres of petrol in stock as it assured Nigerians of steady supply to quell the lingering scarcity across the country.

NNPC said this at a meeting with the Department of State Services and other stakeholders in the midstream and downstream oil sector on Thursday, according to a statement by Peter Afunanya, spokesperson for the secret service.

The DSS, during the meeting, issued a 48-hour ultimatum to the national oil company and marketers to resolve the ongoing petrol distribution crisis.

Responding to the ultimatum, Mele Kyari, NNPC’s group chief executive officer reaffirmed that the company “has in-country stock of PMS of over 1.9 billion litres, which is over 30 days sufficiency”.

Kyari, who was represented by Umar Ajiya, chief financial officer, NNPC, assured Nigerians of the availability of premium motor spirit, otherwise known as petrol.

NNPC also pledged that it “will continue to sell the PMS product, ex-coastal price agreed with the regulator to all marketers, especially the IPMAN members with a view to also providing depots specifically meant for their off-take in order to curtail the profiteering that they have been experiencing in some depots.

“NNPC has also made procurement for the supply of similar volume from now till end of March 2023.

“We have also directed operation team to engage in 24 hours loading of PMS in the next couple of days and make sure some outlets operate 24hours without compromising security in order to bring quick relief to the people.”