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NNPC debunks rumour of imminent fuel scarcity

By BusinessNews Staff on January 31, 2014

The Management of the Nigerian National Petroleum Corporation (NNPC) on Thursday dismissed the reports of looming fuel scarcity.

A statement issued in Abuja by Dr. Omar Ibrahim, the General Manager, Public Affairs Division, NNPC, advised members of the public not to panic.

It said that the NNPC, in spite of the unending challenges posed by pipeline vandalism and product theft, had enough stock of products in its marine reserve and national strategic reserve.

“What the corporation has in stock is enough to make the country remain wet with petroleum products round the clock,” the statement quoted Ibrahim.

The statement cautioned members of the public against any form of hoarding or panic buying of petroleum products in anticipation of scarcity.

NAN recalls that the Major Oil Marketers Association of Nigeria (MOMAN) said inability of the PPPRA to approve import allocation posed serious scarcity challenges to country.

Obafemi Olawore, the executive secretary of the association, said that the Apapa depot, which controlled about 43 per cent of national demand, had only five days fuel sufficiency in stock.

(NAN)

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