NNPC: We have one billion litres of petrol to address supply gap

The Nigerian National Petroleum Company Ltd (NNPC) says it has over 1 billion litres of safe Premium Motor Spirit (PMS), also known as petrol, in its stock for nationwide distribution.

It also said 2.3 billion litres of PMS would arrive in Nigeria between now and the end of the month to restore sufficiency.

NNPC disclosed this on Tuesday on its official Twitter page.

The petrol supply chain was disrupted last week when the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed discovered methanol quantities above Nigeria’s specification.

NNPC had accused four marketers, including its own Duke Oil, as the importers of the off-spec petrol.

The companies, according to NNPC, include MRS which made the importation through a vessel named MT Bow Pioneer; Emadeb/Hyde/AY Maikifi/Brittania-U Consortium through a vessel identified as MT Tom Hilde; Oando through a vessel named MT Elka Apollon; and Duke Oil through MT Nord Gainer vessel.

“NNPC Ltd wishes to reassure Nigerians that it has put adequate measures in place to accelerate the nationwide distribution of PMS earlier disrupted by the quarantine of methanol-blended petrol,” the statement reads.

It said the quarantine was a necessary step to safeguard its customers from the potential impact of this PMS grade on vehicles and machinery.

“As of today, NNPC has over One (1) billion Litres of certified PMS stock that is safe for use in vehicles and machinery,” it said.

NNPC added that it had started running 24-hour operations at its depots and fuel stations to bridge the gap in the supply chain.

“In order to accelerate distribution across the country, we have commenced 24-hour operations at our Depots and Retail outlets,” it added.

“As part of NNPC’s strategic restocking, over 2.3 billion litres of PMS is scheduled for delivery between now and the end of February 2022, which will restore sufficiency level above the national target of 30 days.

“The Major Oil Marketers Association of Nigeria, Depot Owners & Petroleum Products Marketers Association of Nigeria and the Independent Petroleum Marketers Association of Nigeria have also commenced 24-hour loading and dispensing activities in some of their designated outlets. “Furthermore, NNPC’s monitoring team is collaborating with the Authority (NMDPRA) and other Security Agencies to ensure smooth distribution of PMS nationwide.

“NNPC implores Nigerians to avoid panic buying as there is sufficient volume of PMS in-country and effort is being made to accelerate distribution to all filling stations.”

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