NNPC Limited Attributes Petrol Scarcity to Resolved Logistical Issues, Urges Against Panic Buying

NNPC addresses fuel scarcity, assures sufficient supply; black marketers exploit situation, prompting calls for government intervention to restore normalcy.

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Quadri Adejumo
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NNPC Limited Attributes Petrol Scarcity to Resolved Logistical Issues, Urges Against Panic Buying

NNPC Limited Attributes Petrol Scarcity to Resolved Logistical Issues, Urges Against Panic Buying

The Nigerian National Petroleum Company Limited (NNPC Limited) has addressed the current petrol scarcity being experienced in various parts of Nigeria. The company has attributed the scarcity to logistical challenges that have now been resolved. NNPC Limited has assured the public that there is sufficient supply of petroleum products in the country and has urged Nigerians to avoid panic buying.

Despite the assurances from NNPC Limited, the fuel scarcity has caused significant hardship for residents in some states, particularly in the north. In Sokoto and surrounding states, black marketers have been selling petrol at exorbitant prices, with some charging as high as N1,100 to N2,500 per litre. The situation has disrupted business activities and daily life, prompting calls for government intervention to bring the situation under control.

The Coalition for Civil Society Organisations has confirmed the availability of petroleum products at NNPC Limited and has commended the company's Group Chief Executive Officer, Mal. Mele Kyari, for his swift efforts to address the logistics problem. The Coalition has also expressed concern over the exploitation of motorists by black marketers who have capitalized on the temporary glitch in the supply chain.

Why this matters: The petrol scarcity and resulting high prices have a significant impact on the daily lives and livelihoods of Nigerians, particularly those in the affected northern states. The resolution of the logistical issues and the assurance of sufficient supply by NNPC Limited are critical steps in alleviating the hardships faced by the public and restoring normalcy to the fuel market.

NNPC Limited has reiterated that the prices of petroleum products are not changing and has appealed to motorists to be patient, as the company, being the sole importer of petrol, has enough products to meet the demand. The company has also stated that the tightness in the supply of Premium Motor Spirit (petrol) was a result of the logistical issues, which have now been resolved. Nigerians are urged to avoid panic buying and to report any instances of price hikes or exploitation by black marketers to the relevant authorities.

Key Takeaways

  • NNPC Limited addresses petrol scarcity, cites resolved logistical issues
  • Black marketers selling petrol at exorbitant prices up to N2,500/litre
  • Coalition confirms NNPC's efforts to address logistics problem
  • Petrol scarcity impacts daily lives, NNPC assures sufficient supply
  • Nigerians urged to avoid panic buying, report price hikes to authorities