By YANGE IKYAA

The Nigerian National Petroleum Corporation (NNPC) on Monday advised the general public not to engage in panic buying of premium motor spirit, more commonly known in Nigeria as petrol, assuring that it has over 1.7 billion litres of petrol in stock and more product quantity is expected to arrive into the country on a daily basis over the coming weeks and months.

According to a statement signed by Garba Deen Muhammad, who is the group general manager,
group public affairs division at
NNPC, it is therefore unnecessary to entertain any fear of scarcity of petrol throghout the festive season and beyond.

“The NNPC is also not aware of any plan by goverment to cause an increase in the pump price of petrol. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) also made the same declaration last week, saying it had no knowledge that the government was planning any increase in fuel prices,” the statement read in part.

“In view of these assurances therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country,” it further read.

NNPC also affirmed it is engaging all stakeholders to ensure smooth supply and distribution of petroleum products to every part of the country during the festive season and beyond.