No need for panic buying, over 1 billion litres of petrol in stock – NNPC

The Nigerian National Petroleum Corporation (NNPC) has appealed to Nigerians to ignore rumours of an impending scarcity of petrol in the country and stop panic buying.

Fuel stations in many parts of the country have been besieged by Nigerians who are stocking petroleum products in their vehicles and homes following rumours that the commodities might soon be scarce.

However, in a statement released by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, NNPC  said that the report of an impending fuel scarcity due to the purported refusal by some oil marketers to lift products from depots was “fake news”.

The corporation said over one billion litres of petrol were in stock while imports of 48 vessels of 50 million litres each have been committed for the month of April alone.

It further gave assurance that there was no need for panic buying or hoarding of petroleum products in anticipation of scarcity.

The corporation also stated that the approved pump price of petrol remained N145 per litre.