Nigeria: Again, NNPC Cautions Nigerians Against Panic Buying

8 May 2024
Daily Trust (Abuja)
By Faruk Shuaibu

The Nigerian National Petroleum Company (NNPC) Limited has called on motorists to shun panic buying of Premium Motor Spirit, saying the supply and distribution of the product has improved.

A statement by the Chief Corporate Communications Officer,

NNPC Ltd, Olufemi Soneye, said filling stations monitored across several states, including Lagos and the FCT indicated the queues have since thinned out, a development that will keep improving daily in other states.

"The company wishes to state that at the moment, it has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency."

"The NNPC Ltd is also collaborating with relevant downstream agencies, such as the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives to address hoarding and other unwholesome practices."

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