Fuel queues: NNPC says over two billion litres of petrol in stock

As fuel queues resurfaced in Abuja, the Federal capital, the Nigerian National Petroleum Corporation (NNPC) has dismissed any fears of fuel scarcity, stating that the corporation has over two billion litres of petrol in stock.

The corporation furthered reiterated that there will be no increase in the price of petrol in the country, while cautioning sellers and buyers against hoarding and panic-buying.

The NNPC gave the assurance in a statement signed by its Group General Manager, Group Public Affairs Division, Garba Deen Muhammad, on Tuesday.

The clarification came amidst reports of a possible increase in the price of petrol that has dominated the public space.

The media had reported how queues resurfaced in Abuja on Monday as residents besieged fuel stations in anticipation of yet another round of fuel scarcity.

Newsmen who visited petrol stations Monday afternoon found that some of the stations were shut against intending buyers, while others were besieged by motorcyclists, tricycle owners, as well as private and commercial drivers.

Black marketers were also seen hawking the product in jerry cans to interested motorists and other consumers.

Many filling stations in the Wuse and Jahi areas of the city are sold to buyers at prices ranging from N162 to N165.

NNPC in a statement said, “The Nigerian National Petroleum Company Ltd wishes to express its appreciation to Nigerians for always heeding its advisories not to engage in panic buying of petrol.

“The NNPC is once again giving Nigerians strong assurance that we have product sufficiency that will last far beyond the festive period.

“Indeed, our stock has risen from a reserve of 1.7 billion litres to over two billion litres within the last one month. litres, we once again urge Nigerians not to engage in panic buying but to fully enjoy the spirit of the festive season as we continue to work tirelessly to ensure a sufficient supply of petrol to every part of the country.

“Once again the NNPC extends sincere appreciation to all Nigerians for your understanding and support,” it said.

Agency report