No Panic, Nigeria has Enough Petrol Says PPPRA

  • No Panic, Nigeria has Enough Petrol Says PPPRA

In a bid to curb the intermittent shortage of petrol during the Yuletide season, the Petroleum Products Pricing Regulatory Agency (PPPRA) said it has enough petrol to last for at least 47 days.

The PPPRA put the average petrol, inland stock, between 23rd and 29th of November 2019 at 1,145,365,386 litres while marine stock stood at 1,542,779,814 litres. The nation total stock stood at 2,688,145,200 litres.

The Executive Secretary of the agency, Abdulkadir Saidu, who spoke in Abuja on Tuesday said: “Therefore, inland days sufficiency is 20 days, marine days sufficiency is 27 days while total days sufficiency stands at 47 days.”

Saidu, however, warned marketers to desist from hoarding or practices that could cause untold hardship during the festive period.

Mele Kolo Kyari, the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), said the corporation has robust supply and read to meet demand across the country during the festive period.

“We are very sure today that we have a very robust supply plan not just for Christmas but beyond. We are assuring Nigerians that the NNPC has made adequate arrangement to make adequate supply of petroleum products. If there are any issues, we have come together with other agencies of government to ensure those issues are resolved to ensure Nigerians have a very Merry Christmas this year,” Kyari said.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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