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NNPC Increases Petroleum Products Importation

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  • NNPC Increases Petroleum Products Importation

The Nigerian National Petroleum Corporation on Monday announced measures to sustain the nationwide supply of Premium Motor Spirit (petrol), Automotive Gas Oil (diesel), and Dual Purpose Kerosene.

According to the corporation, the measures include increasing the February supply of PMS by six additional cargoes for a national petrol sufficiency of over 32 days; immediate importation of three additional AGO cargoes before the end of this month; and an order for 250 trucks per day loading of AGO and DPK from the three refineries in Port Harcourt, Kaduna and Warri.

The NNPC stated that the measures were taken in Abuja during an emergency meeting on the corporation’s downstream operations, adding that it would transmit the full list of marketers involved in off-taking AGO and DPK to the Department of State Services for appropriate follow-up by the security agency to forestall the possibility of foul play by any stakeholder.

The national oil firm stated that the move to provide additional PMS cargoes of 37,000 tonnes each was to give further comfort and stability to the petrol sufficiency nationwide.

“Another measure the corporation has taken, apart from ramping up fuel supply nationwide, is an expansion of the daily truck load-out of petrol, diesel and kerosene, even during weekends, to ensure improved products’ delivery to the hinterland,” it said in a statement.

The NNPC further stated that it would provide additional marine logistics to improve products’ movements from offshore to land to cater for additional PMS supply.

It charged the downstream operators to immediately implement measures that would sustain the adequate supply and distribution of petrol, diesel and kerosene across the country.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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