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NNPC Ltd Urges Motorists To End Panic Buying



Petrol price now N620 per litre

The Nigerian National Petroleum Company (NNPC) Limited has reassured motorists that the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, is steadily improving, and therefore, no need for panic buying.

According to a press release issued by the company, the queues at filling stations in several states, including Lagos and the Federal Capital Territory (FCT), have significantly reduced, and this positive trend is expected to continue in other states.

The NNPC Ltd. emphasized that it has a robust stock of over 1.5 billion liters of PMS, equivalent to over 30 days of sufficiency, to meet the demands of motorists. The company is working closely with relevant downstream agencies, such as the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labor unions, and security operatives to address hoarding and other unwholesome practices that may disrupt the supply chain.

Motorists are, therefore, advised to shun panic buying and avoid creating artificial scarcity, which can lead to unnecessary hardship for Nigerians. With the current stock level and improved supply chain, there is no need for panic, and the company is committed to ensuring a steady supply of petrol to meet the demands of motorists.

The NNPC Ltd. appreciates the understanding and cooperation of Nigerians and assures them of its commitment to ensuring energy security in the country.

Read the press release below;

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