NNPC says shortfall in petrol supply sorted, warns against panic buying in Lagos

The Nigerian National Petroleum Company Limited (NNPC) on Friday said it had fixed the short fall in petrol supply in the past few days in Lagos.

This was just as the ensuing shortfall in petrol available at petroleum depots and filling stations generated human and vehicular queues at many retail outlets in Lagos and adjoining cities as residents struggled to buy the product.

A statement by the NNPC spokesman, Olufemi Soneye, explained that the problem emanated from one of the depots around the city.

It cautioned motorists against panic buying of the product so as not to exacerbate the supply challenge, assuring that effective today, the situation would be normalised.

“The NNPC Limited wishes to inform the general public that the tightness in Premium Motor Spirit (PMS) supply witnessed in some filling stations in Lagos was as a result of an issue in one of the depots in the area.

“The NNPC Retail Limited, our retail arm, has since resolved the issue and effective tomorrow, normalcy in supply shall be restored within the affected area.

“The NNPC Limited calls on motorists in Lagos to avoid panic buying of PMS as all hands are on deck to sustain sufficiency in the supply of petroleum products in the area,” the statement added.

Meanwhile, petroleum marketers on Friday, blamed the development on the inability of the NNPC to supply the required volume of petrol to them since they all depend on the company as the sole importer to get products.

Several petrol stations, even those owned by the NNPCL, and the major marketers were in short supply and were either not dispensing or recorded long queues.

It was speculated that the cause of the product shortage was due to the NNPCL’s inability to pay its subsidy backlog to oil traders since November and December last year.

Although some marketers said the supply hiccup had nothing to do with the said subsidy backlog, they however, said the subsidy regime was not helping the country.

The marketers also expressed hope that the situation would soon be over as the supplier makes more products available to them.