The Nigerian National Petroleum Company Limited (NNPCL) said on Monday it has 1.8 billion liters of oil in the country for February and March.
The NNPCL said this in a statement from its Director of Corporate Communications, Garba Deen Muhammad.
The statement said that in its concerted efforts to maintain the supply of petroleum products across the country, NNPCL has put in place a robust plan for the supply of Premium Motor Spirit (PMS) from mid-February to March.
It explained that its latest updates released on Monday show that NNPC Limited has a total of 1.805 million liters of PMS stock, representing 805.35 million liters in all land-based warehouses nationwide and 1,000.20 million liters in maritime vessels, which is equivalent to 30.09 days of sufficiency.
He noted that an additional PMS supply of 884 million liters is also expected to arrive in the country by February 28.
“By March 2023, a total of 2,300 million liters of PMS are expected to enter the country, while some 2,500 million liters, which is equivalent to 42 days of sufficiency, will be the closing stock of the month under review.
“While assuring motorists that it has adequate and sufficient volumes both onshore (all depots) and marine vessels, NNPC Limited, as the provider of energy security for the country, will continue to maintain the availability of petroleum products across the country. , ” He said.
The announcement comes days after the oil company assured the Independent National Electoral Commission (INEC) of an adequate supply of oil for electoral logistics.
Shortage
In recent months, Nigerian motorists and home users have struggled to obtain petroleum products at service stations across the country.
The shortage persisted despite repeated claims by the government that it had enough petroleum products in stock.
In early February, the NNPCL assured INEC of an adequate supply of oil for electoral logistics.
NNPCL Group Chief Executive Officer Mele Kyari gave the assurance as a team, led by INEC Chairman Mahmood Yakubu, visited the NNPC towers in Abuja.
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Mr. Yakubu met with officials from the Nigerian National Petroleum Company Limited (NNPCL) to discuss how to mitigate the effects of gasoline shortages for transporting materials and election officials on election day.
He pointed out that the shortage of petroleum products that exists throughout the country could affect operations on election day.
During the visit, the head of the NNPCL pointed out that the oil company is the only company that has floating megastations in the country, adding that it will take advantage of this to facilitate maritime operations in the country’s coastal areas.
“I assure you that as you have indicated, we have taken very extreme measures to see that we can contain the current distribution challenges that we have and I will believe that within the next week, there will be significant relief if not elimination of the current situation at the that we are facing,” Mr. Kyari said.