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Scarcity: NNPC Plans to Raise National Petrol Stock to 2.4bn Litres

The Nigerian National Petroleum Corporation (NNPC), will raise the total volume of petrol available in its storage facility to 2.4 billion litres to avoid potential scarcity, its Group Managing Director, Dr. Maikanti Baru, has said.

Baru, said this would be up from the existing 1.7 billion litres of petrol the corporation has, adding that this was to ensure adequate supply of petroleum products in all the nook and cranny of the country during the Easter holidays and beyond.

A statement from the Group General Manager Public Affairs of the NNPC, Mr. Ndu Ughamadu, yesterday in Abuja quoted Baru, to have made this commitment during the conferment on him, of the “Distinguished Merit Award’’ by the Association of Business Managers and Administrators of Nigeria.

He explained that the NNPC’s current 1.7 billion litres of petrol in stock could last Nigeria for 35 days if a drop of petrol was not added but the plans to increase it to 2.4 billion litres by the end of the month was on-going.

He also said the NNPC was currently responsible for supplying 75 per cent of the gas used to generate electricity in the country. This, he added was equivalent to 300 million standard cubic feet (Scf) of gas per day.

In the statement, Baru also said he dedicated the award to President Muhammadu Buhari for his support for the country’s oil and gas industry.

Also, the registrar of the Association of Business Managers and Administrators of Nigeria, Dr. Ike Christopher, reportedly said that Baru was selected for the merit award because of his role in the clearance of fuel queues from fuel stations, especially during the last Christmas and New Year festivities.

He noted that the seamless supply of petroleum products had brought about stability in prices of goods and services across the country.

On the Easter holidays, Ike advised Nigerians not to engage in panic buying of petrol, saying the NNPC under Baru had demonstrated the capacity to sustain the seamless supply of petrol in the country during festive periods and beyond.

SOURCE: thisdaylive