Petrol Hoarding: Industry Stakeholders To Dismantle Cartel
The Nigerian National Petroleum Company (NNPC) Limited has engaged security agencies and other industry stakeholders to dismantle cartel suspected to be hoarding petrol.
The Company said that as the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, it has products that can last for 30 days.
The Chief Corporate Communications Officer, of the company Olufemi Soneye, therefore called on motorists to shun panic buying of the product.
In filling stations monitored across several states, including Lagos and the FCT, the queues have since thinned out, a development that will keep improving daily in other states.
The Company stated that at the moment, it has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency.
The NNPC Ltd is also collaborating with relevant downstream agencies, such as the Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives to address hoarding and other unwholesome practices, said Soneye.
