May 7, (THEWILL)- The Nigerian National Petroleum Company (NNPC) Limited has again cautioned motorists to shun panic buying of Premium Motor Spirit (PMS), popularly known as petrol.
Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd, in a statement on Tuesday, said nationwide supply and distribution of petrol has continued to improve, adding that queues have disappeared in most filling stations across the country.
Soneye said the state-owned oil company has over 1.5 billion litres of PMS stock, which is equivalent to over 30 days of sufficiency.
“In filling stations monitored across several states, including Lagos and the FCT, 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,” he said.
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