As fuel scarcity looms in Kano, “no need for  panic buying as there is plan increase pump price” says NNPC

Stranded motorists were seen buying from black marketers at higher prices, ranging from N1,000 to N1,500 per four-litres gallon, depending on the location.

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The Nigerian National Petroleum Corporation (NNPC) has advised against panic buying of petrol, saying the federal government is not planning to increase fuel price.

A statement on Monday by Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC, in Abuja, said NNPC had over 1.7 billion litres of petrol in stock.

According to Mr Muhammad, more of the product is expected to arrive in the country daily over the coming weeks and months.

He said it was therefore unnecessary to entertain any fear of scarcity of petrol throughout the festive season and beyond.

“The NNPC is also not aware of any plan by the government to cause an increase in the pump price of petroleum.

“The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has made that declaration last week.

“In view of these assurances, therefore, the NNPC is advising motorists and other consumers of petrol to maintain their regular pattern of the purchase of petrol without getting into a panic situation that may send the wrong signals around the country,” he said.

According to him, NNPC was engaging all stakeholders for the smooth supply and distribution of products across the country during the festive season and beyond.

This assurance is coming as motorists in Kano are experiencing fuel scarcity as long queues have resurfaced at filling stations in the state, the News Agency of Nigeria (NAN) reports.

An investigation conducted by NAN correspondents indicates that the majority of the filling stations in the metropolitan area were under lock and keys.

The investigation further reveals that only a few filling stations were selling at the control price of N165 per litre.

The situation was, however, characterised by long queues and filling stations selling only with one or two pumps to customers in spite of the long queues.

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The situation outside Kano metropolitan area is not different. The majority of the stations remain closed with a few selling at above the government-approved price.

In Tsanyawa, Bichi, Dawakin-Tofa and Gwarzo Local Governments, marketers are selling at N174 per litre, above the approved price by the government.

Stranded motorists were seen buying from black marketers at higher prices, ranging from N1,000 to N1,500 per four-litres gallon, depending on the location.

Earlier, the Nigerian National Petroleum Corporation (NNPC) warned against panic buying of petrol, saying the federal government had no plan to increase fuel price.

However, the Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members plan to increase fuel prices across the country.

Bashir Danmallam, IPMAN Kano chairman, recently said private deport owners had already increased the price from N148 to N153 and N155 per litre, to avoid selling at a loss.

 

(NAN)

 

 

 

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