The Nigerian National Petroleum Company Ltd (NNPC Ltd) has cautioned residents of Abuja against panic buying of fuel, assuring that it has “adequate supplies and national stock in excess of 2.5 billion liters, with a sufficiency of more than 43 days.”
In a series of tweets on the NNPC handle on Sunday, the company attributed the return of fuel queues in Abuja to low load-outs at depots, which usually occurs during long public holidays.
“The NNPC Ltd notes the sudden appearance of fuel queues in parts of Abuja. This is very likely due to low load-outs at depots which usually happen during long public holidays, in this case, the Sallah celebrations.
“We assure all residents of the FCT, and indeed all Nigerians, that we have ample local supplies and national stock in excess of 2.5 billion liters, with a sufficiency of more than 43 days.
“Another contributing factor to the sudden appearances of queues is the increased fuel purchases which is also usual with returning residents of the FCT from the public holiday.”
The NNPC added that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in conjunction with its marketing partners have taken necessary measures to ramp up loading from all depots.
“The NNPC Ltd hereby advises motorists not to engage in panic buying as supplies are adequate as will become increasingly evident in the coming days,” the statement added.