BUSINESS Fuel scarcity to end soon, NNPC says

The Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to work with all relevant stakeholders in the downstream sector of the Oil and Gas industry to bring to an end the lingering fuel scarcity across the country.

The Group Managing Director of the NNPC, Dr. Joseph T. Dawha, stated this while on a tour of some filling stations in Abuja with some top management staff of the corporation.

Dr. Dawha noted that the NNPC as supplier of last resort has improved availability of premium motor spirit otherwise known as petrol in the country and would ensure effective distribution of the product nationwide.

He said arising from the meeting with petroleum products marketing stakeholders last week, the NNPC and its downstream subsidiary Pipelines and Products Marketing Company (PPMC) is committed to bringing the fuel queue situation to an end in Abuja and across the states of the federation.

The NNPC GMD said as at today, the PPMC has a stock level of 1.1 billion litres representing 27 days sufficiency, stressing that the stock excludes volumes with confirmed delivery dates within the next couple of days.

Speaking on the recent vandalized system 2B pipeline of the NNPC, the Managing Director of the PPMC, Prince Haruna Momoh, stated that as at today the NNPC imports 50 percent of petroleum products into the country and with the 40 million daily petrol consumption of Nigerians, the corporation would continue to intensify its efforts to wet the country with products from its coastal depots to inland depots.