The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari, has disclosed that about 810 million litres of petrol are currently in depots, tanks and stations across the country.
He said this in reaction to long queues that have resurfaced across the country in the wake of petrol subsidy removal.
Persecondnews reports that President Bola Tinubu had during his inaugural speech on May 29, at the Eagles Square, Abuja, announced the scrapping of subsidy payment on petrol.
According to Tinubu, the immediate past administration of Muhammadu Buhari did not make provisions for subsidy in the 2023 budget beyond June.
After the announcement, NNPCL officially adjusted the pump price of the commodity to above N500 per litre on Wednesday, May 31, stating that the price will continue to fluctuate to reflect the market realities and dynamics.
Speaking on Thursday evening in an interview on Channels Television monitored by Persecondnews, Kyari assured that the queues will disappear before Saturday, adding that the situation won’t last.
He said: “I don’t see it stand beyond another day or two days max. I don’t see the queues actually stand beyond Saturday.
“We have supply. There are over 810 million litres of petroleum in depots, tanks and fuel stations across the country.
“People panic and run to fuel stations to buy. They now know that there is certainty of pricing so they have to go back.”
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