Again, NNPC Ltd cautions against panic buying, says over 1.5 bn litres of PMS in stock, 30-days sufficiency

May 7, 2024

As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product.

This is contained in a statement by the company’s spokesperson, Olufemi Soneye on Tuesday.

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 wishes to state 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.