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NNPC blames oil marketers for persistent fuel scarcity through petroleum product hoarding.

NNPC blames oil marketers for persistent fuel scarcity through petroleum product hoarding.

The Nigerian National Petroleum Corporation, NNPC, yesterday accused the oil marketers of hoarding petroleum product.

According to the NNPC Group Managing Director, Maikanti Baru, the corporation has increased supply of Premium Motor Spirit, PMS, known as petrol, across the country from about 30 million litres to 80 million litres per day; the ongoing fuel scarcity in the country should be blamed on oil marketers for hoarding the product instead of distributing the products as required.

This is even as the Department of Petroleum Resources, DPR, in an unscheduled visit, forced some filling stations hoarding petrol in Lagos, to dispense the product. The filling stations included MRS, Oando, Ascon, Conoil and Mobil at Ebute Metta

Maikanti Baru said: “But we swiftly swung into action by doubling our supply nationwide. At the time the rumour started, we had about 30 day sufficiency. The normal daily supply to the nation is 700 trucks, equaling about 27 million to 30 million litres per day.”

The NNPC boss, who was quoted in a statement in Abuja, disclosed that the hike in the product supply became necessary after the current hiccup in fuel supply was noticed a few days back, adding that these measures would ensure that the fuel crisis comes to an end this week.

Baru blamed the current fuel crisis on the rumour about a planned increase in the price of petrol, which made some unscrupulous marketers, wanting to cash in on the situation, to suddenly start hoarding products.

Baru noted that the NNPC had enough products sufficiency that will last up to 30 days, adding that at least a billion litre petrol laden cargoes were heading to Nigeria shores at the end of December, which would return the country to a 30-day-plus sufficiency.

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