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Petrol: Again, NNPC Ltd. cautions against panic buying

"The company wishes to state that at the moment, it has over 1.5 billion litres of PMS stock, which is equivalent to over 30 days of sufficiency"

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For the umpteenth time, the Nigerian National Petroleum Company Limited (NNPC Ltd) has advised motorists to refrain from panic buying of Premium Motor Spirit (PMS), also known as petrol, even as the nationwide supply and distribution of the commodity continue to improve.

The queues at filling stations monitored across several states, including Lagos and the FCT, have since thinned out, a development that will continue to improve daily in other states.

According to a statement by the Chief Corporate Communications Officer, Mr. Olufemi Soneye, the company has over 1.5 billion litres of PMS stock, which is equivalent to over 30 days of sufficiency.

It said the company is collaborating with labor unions in the sector, security operations, and relevant downstream agencies to tackle hoarding and other unwholesome practices in the supply and distribution chain.

“The NNPC Ltd. is also collaborating with relevant downstream agencies, such as the Nigeran Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector, and security operatives, to address hoarding and other unwholesome practices,” the statement obtained by Persecondnews said.

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