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NNPC Expecting 250 Million Litres of Petrol

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  • NNPC Expecting 250 Million Litres of Petrol

The Nigerian National Petroleum Corporation announced on Wednesday that it was expecting up to five ships, each filled with 50 million litres of Premium Motor Spirit, popularly known as petrol, in the country in the next three days.

It said the move was to bridge the shortage in the volume of PMS available for supply and distribution and make the queues by motorists in many filling stations across the country to disappear.

The corporation stated that its downstream subsidiary, the Nigerian Products Marketing Company, had increased the number of trucks that move petrol from its depots to 1,300 per day in order to prevent distribution and supply hiccups.

Last week, the Federal Government directed the Minister of Petroleum Resources, Ibe Kachikwu, to ensure that queues for petrol were cleared within a week.

Although Kachikwu told journalists in Abuja that a number of measures had been put in place to address the situation, the queues persisted till Tuesday but reduced on Wednesday in Abuja and neighbouring states.

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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