Post Views: 101 The Nigerian National Petroleum Corporation, on Sunday assured that there is no need for panic buying of petroleum products particular...
The Nigerian National Petroleum Corporation, on Sunday assured that there is no need for panic buying of petroleum products particularly premium motor spirit (or petrol), ahead of the Easter festivities.
The corporation announced that besides the release of foreign exchange to marketers by the Central Bank of Nigeria (CBN) to import Automotive Gas Oil and Aviation Turbine Kerosene, it has in stock “a robust inland supply of over 1.2 billion litres of petrol sufficient for more than 34 days forward consumption.”
The statement by Ndu Ughamadu, the Group General Manager in the Group Public Affairs Division, also assured that “in addition, NNPC has re-commissioned its strategic 479.2 kilometres System 2B petroleum products pipeline network which stretches from the Atlas Cove-Mosimi-Ejigbo-Ibadan, terminating at Ilorin which will enhance effective distribution of petroleum products nationwide, especially with the envisaged resumption of loading activities at the Mosimi, Ejigbo and Ibadan depots,” the statement added.
“The Calabar and Aba depots have been stocked with AGO while AGO loadout at Kano depot would commence soon,” it added.
The corporation also pointed to its March to May 2017 product supply outlook, which shows that steps have been taken to ensure adequate supply of AGO and ATK, adding that diesel and aviation fuel import by the NNPC will continue to supplement local refining.