The Nigerian National Petroleum Company Limited ( NNPC), has assured motorists that it has two billion litres of Premium Motor Spirit, PMS, known as petrol in stock.
In a statement issued by Executive Vice President, Downstream, NNPC Limited, Mr Adeyemi Adetunji. Said that the stock of over two billion litres is equivalent to over 30 days of sufficiency.
“The recent queues in Lagos are largely due to ongoing road infrastructure projects around Apapa and access road challenges in Lagos.
“The gridlock is easing out and NNPC Ltd has programmed vessels and trucks to unconstrained depots and massive load outs from depots to states are closely monitored,” he said.
“The NNPC has sufficient products. We have the petroleum motor spirit (PMS) stock of over 2 billion litres on Nigerian waters and 600 million litres on land which is equivalent to 10 days of sufficiency. Logistics and activities of saboteurs, who are making life difficult for everybody, are the cause of the scarcity.
“NNPC is spending a lot of resources in bringing refined petrol to the country. We sell crude oil, get foreign currencies, and buy petrol at international price but sell at a controlled price. We subsidise for everybody. If NNPC stops importing petrol today, the country will grind to a halt.
“I can’t tell the government to stop subsidy but if it can be removed, everything will normalize. NNPC is under appreciated and unfairly treated in this country.’’
