Fuel Scarcity: NNPC Says No Cause For Panic Buying


The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, on Tuesday, urged Nigerians to stop panic buying as the corporation was doing everything within its capacity to address the fuel scarcity.

As the festive season approaches, the country gradually submerging into the usual fuel scarcity; with queues of desperate motorists grew longer at many petrol stations selling Premium Motor Spirit, also known as petrol, in Lagos, Ogun, Kwara and other states of the federation, including the Federal Capital Territory.

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Situations such as these causes increase in petrol prices, however, Mr. Baru who cut short his trip to London, as concerns increased over the sudden fuel scarcity nationwide, assured that NNPC has sufficient products to cater for the needs of all consumers.

“For the umpteenth time, I wish to call on all Nigerians to stop panic buying. We have said times without number that NNPC has sufficient products to cater for the needs of all consumers,” Baru stated.

Reports from our correspondent confirmed that despite assurances given by the Corporation against any impending fuel crisis, most filling stations, particularly in the South-west part of the country, are still without the product.

Meanwhile, the NNPC had informed Nigerians that there was no plan whatsoever to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide. NNPC released a statement saying the ex-depot petrol price of N133.38 per litre and the pump price of N143/N145 per litre have not changed.

BuzzNigeria gathered that fuel price per litre in the South-East is currently sold at N150 in many petroleum stations. Even Motorists and other consumers of petrol earlier complained about the latest round of fuel scarcity, alleging that it might be a ploy to increase the pump price of petrol.

Petrol stations in Abuja and environs are reportedly having normal operations, while stations in other parts of the country are having mixed experiences, as government regulatory agencies scramble to resolve the current crisis with fuel marketers before the expiration of Monday deadline.

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While assuring that the Corporation has the full commitment of all downstream stakeholders including petroleum marketers and industry unions to cooperate in achieving zero fuel scarcity this season and beyond, the NNPC enjoined motorists and other users of petroleum products to disregard trending rumours of an impending fuel price hike as reported in some news platforms.

They also noted that its downstream subsidiary companies namely the Petroleum Products Marketing Company (PPMC) and NNPC Retail Limited are fully geared up to ensure that motorists enjoy uninterrupted access to petrol throughout the nation during the yuletide period and beyond.