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NNPC tackles fuel scarcity, warns against panic buying

Several filling stations in Abuja had long queues to deal with yesterday just as the Nigerian National Petroleum Corporation (NNPC) dismissed fears of a scarcity of petroleum products, particularly petrol, stating that there was no need for panic buying.

In Abuja, young men were seen selling petrol to motorists in jerrycans amid complaints by retailers that they now buy at a higher price of N153 per litres, up by N5 from the N148 recommended price.

Oando filling station, opposite the Nigerian National Petroleum Corporation (NNPC) headquarters in Abuja, had several motorists jostling to be served at about 4:30 pm.

The same situation was observed at the NNPC mega station on Olusegun Obasanjo Way in zone 3, just like the fuel queues swelled in Asokoro, Maitama and other high brow areas of the capital territory, with a 10-litre container selling for about N2000.

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Meanwhile, NNPC has declared that there is no need to buy fuel in panic, stating that it has enough products to serve Nigeria beyond the Christmas and New Year celebrations.

The Group Managing Director of NNPC, Mallam Mele Kyari, said the corporation has over 1.7 billion litres of petrol in the country for distribution, adding that another 2.3 billion litres would be coming into the country within the month.

Kyari stated this yesterday in his keynote address at the 2021 edition of the Association of Energy Correspondents of Nigeria (NAEC)’s Strategic International Conference, held in Lagos.

The theme of the conference was “Petroleum Industry Act: Energy Transition and the Future of Nigeria’s Oil and Gas.”

Kyari, who spoke virtually from Glasgow, Scotland, where he is currently participating at the United Nations Climate Change Conference (COP26), said NNPC’s main objective was to provide energy security for Nigeria and ensure the availability of petroleum products in the country.

He added that though there were issues around pricing at some depots, the government has no plan to migrate to any new pricing structure.

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