The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has confirmed the existence of commercial stocks across the federation, despite fuel queues returning in some cities.
This was stated by Farouk Ahmed, Chief Executive Officer, NMDPRA, while also asking Nigerians to desist from panic-buying of the product.
Ahmed expressed optimism that the queues being experienced would soon disappear as the marketers and NNPC have confirmed that there are adequate stocks to sustain the public.
He said, “I spoke with the MOMAN’S Executive Secretary this morning and he told me they have sufficient stock. I have directed them to start evacuating the product immediately to filling stations.
“NNPC has also confirmed sufficiency and they have commenced evacuation. From now till tomorrow, the situation will be back to normal. I don’t know what is happening but we are on top of the situation.”
Speaking on the development, the chairman of MOMAN, Mr. Olumide Adeosun, in an interview with Vanguard, said there is enough stock of petrol to meet local demand.
Adeosun blamed a slow-down in the delivery going to Apapa jetty in Lagos, for panic buying.
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According to him, some vessels have since discharged the product to the jetty while more deliveries are expected soon.
He said: “The current scarcity witnessed in Lagos and some parts of the country is just a function of a slight ‘sporadic supply.
“What happened was that there was a slowdown in the delivery going to Apapa jetty and the net effect of what we see now is people engaging in panic buying.
“This is because there are just enough products. Cargo came in at the weekend and another is coming in tomorrow, so there shouldn’t be any problem with supply. However, there are some other upstream issues but we have enough stock to meet the market. The message to Nigerians is not to engage in panic buying.”
Source: Vanguard
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