The Nigerian National Petroleum Corporation Limited (NNPCL) has identified logistics issues as the cause of the persistent fuel scarcity in some parts of the country.
NNPCL, which is vested with managing the country’s petroleum sector, made the revelation in a statement released on Thursday, News About Nigeria reports.
It assured that the issues have been resolved and reiterated that the prices of petroleum products remain unchanged.
According to Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, the corporation has sufficient products to meet the demand and therefore urges Nigerians to avoid panic buying.
The statement read in part: “The tightness in the supply of Premium Motor Spirit (PMS) has been resolved, and we reassure Nigerians that there is no change in the prices of petroleum products. We have sufficient products in the country, and we urge citizens to avoid panic buying.”
In a related development, the Dangote refinery on Tuesday announced a reduction in the price of diesel and aviation fuel to N940 and N980 per litre, respectively.
This comes a week after the company announced a reduction in the price of diesel from N1,200 to N1,000 per litre.
The Dangote Petroleum Refinery, Africa’s largest oil refinery, commenced operations in January, ending a long period of anticipation. This boosted Nigeria’s refining capacity, as the country has historically relied heavily on imported petroleum products.
With a production capacity of 650,000 barrels per day, the $19 billion facility started by producing diesel and aviation fuel. However, it is expected to begin supplying petrol in the fourth quarter of the year.
