Connect with us

NNPC doubles supply as scarcity bites harder

kizinho

Published

on

Follow
NEWS: NNPC doubles supply as scarcity bites harder [New Naija News] » Naijacrawl
Photo: Naijacrawl

NIGERIAN National Petroleum Corporation (NNPC) Group Managing Director Dr.



Maikanti Baru says the corporation has doubled the daily supply of Premium Motor Spirit (PMS), otherwise called petrol, from 700 trucks (about 27 million – 30 million) litres per day supply to 80 million litres per day since the scarcity in the supply chain was noticed.
Despite the intervention, scarcity of petrol continued in several cities across the nation yesterday, with travelling motorists having recourse to buy from black marketers, who sold the products in jerry cans.
Baru spoke before the signing of a Memorandum of Understanding (MoU) between the corporation and Benue State on the Agasha-Guma Bio-fuels Projects in Abuja.
The corporation, in a statement, said the NNPC GMD attributed the hiccups in the supply of PMS to rumours about purported planned increase in the price of petrol.
He stated that some marketers, in their quest to cash in on the situation, suddenly started hoarding products.
“But we swiftly swung into action by doubling our supply nationwide. At the time the rumour started, we had about 30-day sufficiency,” he said.
He added that the NNPC has enough products sufficiency that will last up to 30 days.
Baru said at least a billion litre petrol laden-cargoes were heading to Nigeria shores at the end of this month, which, he noted, will return the country to a 30-day-plus sufficiency.
The NNPC boss, who expressed joy at PENGASSAN’s call-off of its planned strike, called on motorists not to engage in panic buying as the corporation has more than enough products for domestic consumption.
Baru, who assured that the fuel situation would soon fizzle out this week, warned marketers against hoarding.
He hailed NNPC’s sister agencies, the Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA), for their support in helping NNPC tackle the menace of hoarding by filling stations.
Signing the MoU on the Bio-fuels Project with the state government, Baru said the project would provide employment for youths in the state.
Benue State Deputy Governor Benson Abounu said the state was happy with the signing of the MoU, which, he said, was a watershed in the nation’s quest to find alternative sources of energy.
He pledged the support of the Benue citizens to the project, adding that various host communities would give their 100 per cent support for its success.
The Agasha-Guma bio-fuels project aims at developing Integrated Sugarcane Plantation and Fuel-Ethanol/Sugar/Power Plant Complex in Benue State through a Special Purpose Vehicle (SPV).
Expected to create one million direct and indirect jobs on completion, the project will also produce about 84 million litres of fuel ethanol annually.
The statement added the NNPC plans to mobilise to site by First Quarter of 2018.

Click Here To Comment




kizinho
 

Adike Kizito is a top-rated software developer, blogger, sports, and entertainment lover. He is the CEO of these popular websites Naijacrawl.com and Mp3ager.com. He operates his software developing task through Kizzsoft.com,... Read More

Continue Reading
Click to comment

Be first to comment


Leave a Reply

Your email address will not be published. Required fields are marked *

Naija News

Fuel Scarcity: Fuel Station Caught fire in Akure

Piroll

Published

on

NAIJA NEWS: Fuel Scarcity: Fuel Station Caught fire in Akure [New Naija News] » Naijacrawl
Photo: Naijacrawl
It was a chaotic moment yesterday in the capital city of Ondo State, Akure as a popular fuel station in the state caught fire around 2:40 pm. The station; Optima fuel station is situated along Awule area of the city.Preliminary reports show that the incident happened when a tanker tried to offload diesel into the reservoir and there was an electrical spark will make the diesel inflame.There were no casualties and no house around the fuel station was burnt. The Ondo...
Continue Reading

Naija News

How flood on Lokoja-Abuja highway caused renewed fuel scarcity, queue

Victorious

Published

on

NAIJA NEWS: How flood on Lokoja-Abuja highway caused renewed fuel scarcity, queue [New Naija News] » Naijacrawl
Photo: Naijacrawl
The Federal Capital Territory's (FCT) renewed fuel shortage has been bemoaned by drivers and commuters alike.Long lines have returned to filling stations all over Abuja as a result of the fuel shortage, according to Naijacrawl.Due to the situation's lack of transportation to take passengers to their various locations, many passengers are currently stranded.According to information obtained by our correspondent, the Kogi State traffic jam on the Lokoja-Abuja road is...
Continue Reading

Naija News

PENGASSAN gives reason for fuel scarcity in Nigeria

Victorious

Published

on

NAIJA NEWS: PENGASSAN gives reason for fuel scarcity in Nigeria [New Naija News] » Naijacrawl
Photo: Naijacrawl
Mr. Festus Osifo, President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has given a reason for the ongoing fuel scarcity across the country, particularly in Lagos and Abuja.Speaking during an interview on Channels Television’s Sunrise Daily, Osifo highlighted the issue of "bridging funds" between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and truck drivers who deliver the Premium Motor Spirits...
Continue Reading

Latest


Download Naijacrawl App today

Fastest way to read on the go

Download the Naijacrawl App.