NNPC Stores Two Billion Litres of Petrol for End-of-year Movement

NNPCThe Nigerian National Petroleum Corporation (NNPC) Tower
  • NNPC Stores Two Billion Litres of Petrol for End-of-year Movement

The Nigerian National Petroleum Corporation on Tuesday announced that it had stored over two billion litres of Premium Motor Spirit, also known as petrol, to ensure a hitch-free end-of-year movement of motorists.

It said the end-of-year period had been hitherto characterised by scarcity of fuel due to supply and demand disequilibrium.

Speaking after his investiture as a special marshal by the Federal Road Safety Corps, the Group Managing Director, NNPC, Maikanti Baru, said adequate measures were in place to ensure that motorists had unimpeded access to fuel ahead of the end-of-year festivities.

Baru said the provision of adequate petroleum products would not only ease transportation but also make the roads safer for motorists, adding that consumers would have no need to hoard fuel in jerry cans.

He was quoted in a statement issued by the corporation’s spokesperson, Ndu Ughamadu, as saying, “As we speak, the NNPC has over two billion litres of petrol and we want to sustain this level from now on up until the end of the year and beyond. This volume will give the country product sufficiency of about 60 days, well above the standard 30 days sufficiency threshold.”

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Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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