NNPC Advice Against Panic Buying Of Petrol

The Nigerian National Petroleum Corporation Group has urged Nigerians to disregard rumours of petrol shortages and not engage in panic buying, stating that it has enough in stock.

This was disclosed in an online statement by the NNPC on Wednesday evening.

This also comes as the Federal Government has agreed to an extension of the fuel subsidy which the costs would be covered by the NNPC.

The NNPC, in its statement, assured the public that sufficient PMS in stock to meet the needs of Nigerians.

“The public is therefore, advised not to engage in panic buying of petrol; & to ignore all rumours that may suggest otherwise,” it stated.

The statement added that the NNPC Ltd is deeply committed to ensuring energy security for the country.

It would be recalled that the FG recently announced that 18 months extension of the implementation of the fuel subsidy removal policy.

The Federal Government also stated that part of its plans to ensure life is made easier for Nigerians before full removal of subsidy on fuel, will be to embark on an auto-gas plan, which it says it has already begun talks with original equipment manufacturers.

Minister of state for Petroleum, Timipre Sylva stated that the full removal of fuel subsidies is dependent on 3 factors including, the timeline of new refineries coming online, palliatives to cushions the effects of the removal by the Minister of finance and the full implementation of the autogas policy of the FG.