The public has been advised to avoid any panic buying of Premium Motor Spirit, otherwise known as petrol in the country.
The Nigerian National Petroleum Corporation (NNPC) said it 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. It is therefore unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond.
The NNPC is also not aware of any plan by government to cause an increase in the pump price of petroleum. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week.
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 NNPC 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.
