FG links scarcity with excess methanol found above required specification in PMS

The Federal Government says it has identified and subsequently dealt with what may have caused panic buying of petrol in some parts of the country and the FTC.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority said it has discovered a limited quantity of Premium Motor Spirit commonly known as Petrol, with methanol quantities above Nigeria’s specification in the supply chain of the product.

In a press statement made available to newsmen, the regulatory authority noted that to ensure vehicular and equipment safety, the limited quantity of the impacted product has been isolated and withdrawn from the market, including the loaded trucks in transit.

The source supplier according to the authority has been identified and further commercial and appropriate actions will be taken by the Authority and the NNPC Ltd.

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The CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Agency, Mr. Farouk Ahmed said while the quality control agencies of the government have swung into action, NNPC Limited and oil marketers have been directed to ensure a robust supply of petroleum products.

“Methanol is a regular additive in petrol and is usually blended to acceptable quantity,” Mr. Ahmed said at a press briefing in Abuja.

“To ensure vehicular and equipment safety, the limited quantity of the impacted product has been isolated from the market, including those loaded in trucks.

“Our technical team, in conjunction with NNPC and other industry stakeholders will continue to monitor and ensure quality products are adequately supplied and distributed nationwide. So there is no need to panic.

“The sole supplier has been identified and further commercial and appropriate actions shall be taken by the authorities and the NNPC.

“The NNPC Limited and all marketing companies have been directed to sustain sufficient distribution of petrol products in all retail outlets nationwide to avoid any scarcity.

“Meanwhile, the NNPC has intensified efforts at increasing the supply of petroleum products in the market in order to bridge any unforeseen supply gap.”