NNPC pumps out 1bn liters to restore fuel distribution, curbs scarcity.

© NNPC pumps out 1bn liters to restore fuel distribution, curbs scarcity.
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NNPC Limited on Tuesday assured Nigerians that it has one billion liters of certified Premium Motors Spirit (PMS), also known as Petrol stock that is safe for use in vehicles and machineries. In a statement, the oil firm said it has activated 24-hour operations at its depots and retails outlets in a bid to accelerate distribution across the country. “As part of NNPC’s strategic restocking, over 2.3 billion liters of PMS is scheduled for delivery between now and end of february 2022, which will restore sufficiency level above the national target of 30-days.

The statement noted that major oil marketers association of Nigeria (MOMAH), Depot Owners & Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN) have also commenced 24-hour loading and dispensing activities in some of their designated outlets. According to the NNPC, its monitoring team is collaborating with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and other security agencies to ensure smooth distribution of PMS nationwide. “NNPC implores Nigerians to avoid panic buying as there is sufficient volume of PMS in the country and effort is being made to accelerate distribution to all filing stations,” the oil firm said in the statement.

Fuel queues remerged last week in Lagos and Abuja and has persisted across the country following the report of the importation of contaminated petrol, which has caused dislocation within the value petroleum distribution value chain. In Lagos on Tuesday, 10 liters of petrol was selling at N4,000 in the black market as long queues were seen in many filing stations, while roadside selling make brisk business.

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