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NNPC releases 293 million litres of petrol

By BusinessNews Staff on April 19, 2014

The Nigerian National Petroleum Corporation and its downstream subsidiary, Pipelines and Products Marketing Company, on Thursday said 293,326,011 litres of petrol had been released into the market in a bid to ensure hitch free Easter celebrations across the country.

The corporation said major and independent marketers would supply additional 142,913,189 litres to the market.

The Group General Manager, Group Public Affairs Division, NNPC, Mr. Ohi Alegbe, said in a statement that the corporation, Major Marketers Association of Nigeria, Nigeria Independent Petroleum Company and all other importers of petroleum products were all trucking out petrol from the various marine and inland depots so as to stabilise supply nationwide.

“The NNPC/PPMC is collaborating with relevant stakeholders in the hydrocarbon value chain to wet the nation with PMS before, during and after the Easter celebration,” he said.

According to him, there is approximately 17 days’ petrol national sufficiency at 40 million litres per day consumption, adding that efforts were on to build up the stock to guarantee sufficiency for the country.

Alegbe gave an assurance that the NNPC was collaborating with other stakeholders to restore normalcy to the fuel supply situation in the country and enjoined motorists and filling station owners to desist from panic buying, hoarding and other sharp practices.

[Punch]

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