The Nigerian National Petroleum Company Limited (NNPC) has reported having in storage, more than 1.7 billion litres of petrol ready for distribution as scarcity of the product gets messier.
The Group Managing Director NNPC, Mr Mele Kyari, on Wednesday, foreclosed all possibilities of a hike in petrol pump price.
Kyari said after a meeting with the leadership of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Petrol Tanker Drivers (PTD).
He said that arrangements were in place to ensure 24 hours loading in all depots.
“This will ensure that scarcity created by panic buying will now be freed so that normalcy will return to filling stations.
Typically in situations like this, people go to the filling stations and buy in excess of what they need and this is what additional supply will resolve. I am very sure that very soon we will see relief from this”, he assured.
He added that Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) were on the same page with the NNPC to sanction defaulting stakeholders.
NNPC is intensifying efforts to resolve distribution hitches being experienced in some parts of the country due to logistics issues.
“We have engaged depot operators to load products round the clock to accelerate the restoration of normal distribution”.
