The Nigerian National Petroleum Company Limited (NNPC Ltd) says it has two billion litres of Premium Motor Spirit (PMS) In stock.

This is contained in a statement issued by Mr Adeyemi Adetunji, Executive Vice President, Downstream, NNPC Limited.

Adetunji said the stock of over two billion litres is equivalent to over 30 days sufficiency.

The NNPC, he said, has programmed vessels and trucks to unconstrained depots while massive loadouts from depots to states are closely monitored to ease fuel queues.

“The recent queues in Lagos are largely due to ongoing road infrastructure projects around Apapa and access road challenges in Lagos.

“The gridlock is easing out and NNPC Ltd has programmed vessels and trucks to unconstrained depots and massive loadouts from depots to states are closely monitored,” he said.

Adetunji said that Abuja was impacted by the challenges recorded in Lagos, adding that NNPC retail and key marketers had intensified dedicated loading into Abuja to restore normalcy.

“We want to reassure Nigerians that NNPC has sufficient products and we significantly increased products loading in selected depots and extended hours at strategic stations to ensure sufficiency nationwide.

“We are also working with industry stakeholders to ensure normalcy is returned as soon as possible,” he said.

Meanwhile, in major cities across the nation, petrol stations have remained closed, while others were besieged by motorcyclists, tricycle owners, as well as private and commercial drivers. In Lagos, Ogun, Abuja among others residents said fuel stations sold petrol for N250.

Petrol marketers had projected that the price of petrol could hit N400 per litre at most filling stations before the end of 2022 while petrol dealers said if the scarcity of the product persists, it could continue to rise as the price is already N450 per litre on the black market.

It has also been learnt that saboteurs are cashing out on the menace by buying at subsidised amount but sell at outrageous amount thereby making money from the problem while motorists suffer scarcity of the products.