The Nigerian National Petroleum Company Limited has assured Nigerians that it has abundant stock of Premium Motor Spirit to meet domestic needs.
The NNPC also reiterated its mandate to ensure energy security in Africa’s largest oil producing country.
The state-owned petroleum company urged Nigerians in a statement issued by NNPC’s spokesperson, Garba Deen Muhammad, and posted on microblogging site, Twitter to stop panic buying of PMS across the country.
The NNPC said, “The NNPC Ltd. wishes to assure the public that the Company has sufficient PMS stock to meet the needs of Nigerians.
“The public is, therefore, advised not to engage in panic buying of petrol; and to ignore all rumours that may suggest otherwise.
“In line with the existing laws of the land, NNPC Ltd. is deeply committed to ensuring energy security for the country.”
The Minister of State for Petroleum Resources, Timipre Sylva, had on Tuesday during a briefing on the status of the Federal Government’s plan on PMS subsidy said that the queues were not natural.
But the government has halted plans to remove the subsidy for a period of 18 months
Sylva said, “People tend to want to take steps against it, some want to profiteer and of course they try to begin to hoard. Some people also want to make sure that they stock enough PMS in their homes, so that whenever there is this announcement, they will be able to have enough in storage.
“So, all that will inform the reason for this panic buying and of course panic hoarding. But that is why the government has to come out to make things very clear to you that this is not on the cards.”