From Uche Usim, Abuja
As reports of likely petrol scarcity push motorists into panic buying, the Nigerian National Petroleum Corporation (NNPC) yesterday said it was increasing February petrol supply with additional six cargoes.
The Acting Group Managing Director of NNPC, Mr. Saidu Mohammed, who disclosed this in Abuja at the weekend while chairing an emergency meeting on the corporation’s downstream operations, also said the national oil company has put together elaborate measures to sustain steady supply of other products, especially diesel (AGO) and Dual Purpose Kerosene (DPK), otherwise called kerosene, nationwide.
According to him, the NNPC plans to obtain from the Central Bank of Nigeria (CBN), an AGO foreign exchange (forex) intervention to marketers as well as Depot and Petroleum Products Marketers Associations (DAPPMAN).
He added that the corporation would convert the existing issued $144 million PMS forex intervention to AGO.
“NNPC has also developed a comprehensive and clear deadline for the completion of the Atlas Cove-Mosimi pipeline and commenced shipment of AGO to Calabar.
“Motorists and other consumers of petroleum products across the country are enjoined not to engage in panic buying as NNPC has over 32 days’ sufficiency for petrol, and adequate volumes of diesel to meet their demand. Moreso, there are measures to sustain products’ steady supply, including increasing the February supply of Premium Motor Spirit (PMS) by six additional cargoes to the existing national PMS sufficiency of over 32 days; immediate importation of three additional Automotive Gas Oil (AGO) cargoes before the end of February; and an order for massive 250 trucks per day loading of AGO and DPK from across the three NNPC refineries in Port Harcourt, Kaduna and Warri,” Mohammed said.
He added that the NNPC would transmit the full list of marketers involved in off-taking AGO and DPK to the Department of State Services (DSS) for appropriate follow-up by the security agency to forestall possibility of any stakeholder engaging in product diversion or any other foul play.
He said the move to provide additional PMS cargoes of 37,000 tonnes each was to give further comfort and stability to the robust petrol sufficiency nationwide.