Timipre Sylva Insists Nigeria Has Enough Fuel To Last 32 Days

NNPC Kicks Against Panic Buying, Assures Nigerians Of Sufficient Fuel.

Following the resumption of gasoline lineups in certain sections of Abuja, the Federal Capital Territory, the Nigerian National Petroleum Corporation (NNPC) assured Nigerians on Wednesday that the corporation had enough Premium Motor Spirit, often known as petrol, to satisfy the country’s demands.

In a statement issued on Wednesday by the NNPC’s Group Managing Director, Group Public Affairs Division, Garba Deen Muhammad, the corporation advised against panic purchasing, encouraging Nigerians to disregard all reports about pump price increases.

“The NNPC Ltd. wishes to assure the public that the Company has sufficient PMS stock to meet the needs of Nigerians.

“The public is, therefore, advised not to engage in panic buying of petrol; and to I ignore all rumours that may suggest otherwise,” the statement read.

The organization also informed Nigerians that it remained genuinely dedicated to guaranteeing the country’s energy security.

READ ALSO: FG Indefinitely Suspends Plan To Remove Fuel Subsidy

This comes only hours after the NNPC asked for a fuel subsidy of three trillion naira for the year 2022.

Mrs. Zainab Ahmed, Minister of Finance, Budget, and National Planning, revealed this to State House media during the Federal Executive Council meeting presided over by President Muhammadu Buhari.

“In 2022, because of the increased crude oil price per barrel in the global market, now at $80 per barrel, and also because NNPC’s assessment is that Nigeria is that the country is consuming 65.7 million litres per day, that we would end up with an incremental cost of N3 trillion in 2022,” the minister added.

According to Mrs. Ahmed, the Federal Government will have to make an additional provision of N2.557 trillion to cover subsidy obligations, which now average around N270 billion each month.


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