Fuel Crisis Eases: NNPCL Assures Sufficient Petrol Supply

NNPCL Moves to Calm Fears

Amidst the ongoing efforts to enhance the nationwide supply and distribution of petrol, the Nigerian National Petroleum Company Limited (NNPCL) has advised against panic buying, citing a robust stockpile of over 1.5 billion litres of petrol, equivalent to 30 days of product sufficiency.

According to a statement by NNPCL's Chief Corporate Communications Officer, Olufemi Soneye, the company has monitored filling stations across several states, including Lagos and the FCT, and observed a significant decrease in fuel queues. This trend is expected to continue improving daily in other states.

Collaboration to Combat Hoarding

NNPCL is working closely with relevant downstream agencies, labor unions, and security operatives to address hoarding and other unethical practices that contributed to the recent petrol scarcity. This collaboration aims to ensure a smooth and uninterrupted supply of petrol to all parts of the country.

Two weeks ago, a severe petrol scarcity hit the country, leading to skyrocketing prices at filling stations. Major Energy Marketers Association of Nigeria (MEMAN) stations sold petrol for as high as N610, while Inependent Petroleum Marketers Association of Nigeria (IPMAN) stations sold for up to N800. Black marketers and racketeers took advantage of the situation, selling petrol for as high as N1200 per litre.