We have 1.2bn litres of petrol in stock, says NNPC

Abuja – The Nigerian National Petroleum
Corporation (NNPC) and its downstream
subsidiary, the Pipelines and Products
Marketing Company (PPMC), said they had
1.2 billion litres of petrol in stock.
This is contained in a statement issued in
Abuja on Thursday by Mr Ohi Alegbe,
Group General Manager, Group Public
Affairs Department, NNPC.
Fuel Scarcity persist up till Thursday in
Lagos Px shows Vehicles and Jerrycans on
queue at Petroleum Managers Filling Station
along the Apapa Oshodi Expressway in
Lagos Px Joe Akintola (Photo Editor)
The statement stated that the figure
translated to 31 days sufficiency, going by
the 40 million litres daily consumption of
the product in the country.
It explained that the Managing Director of
PPMC, Mr Haruna Momoh, made the
announcement in Abuja.
It quoted Haruna as saying that “21
additional vessels laden with petroleum
products are in offshore Lagos waiting to
berth.
“NNPC has made adequate arrangements to
ensure energy sufficiency in the country
and reassured motorists that the noticeable
queues at the filling stations would thin out
in the days ahead”.
Momoh said that the NNPC also had 21 days
sufficiency of Automotive Gas Oil (AGO)
otherwise known as diesel and 18 days
sufficiency of Dual Purpose Kerosene (DPK),
otherwise known as kerosene.
He said that as part of efforts to ensure
petroleum products’ sufficiency and
distribution, the NNPC embarked on
aggressive Reception Depots rehabilitation in
2011.
“As at today, 18 depots out of the 23 depots
have been fully recovered with the
exception of Makurdi, Yola and Maiduguri
due to the activities of pipeline vandals,” he
said.
The PPMC MD disclosed that the corporation
suffered petroleum products losses worth
N40.8bn through pipeline vandalism in
2014.
He said that no business could survive such
a loss and still remained a growing concern.
Momoh said there was a marginal increase
in pipeline vandalism, stressing that in 2013,
the corporation recorded 3,517 vandalised
points but in 2014, the figure increased to 3,
774.
He said that “as at today, 97 pipeline
vandals are undergoing prosecution”.
Momoh expressed regret that since the
cases started a few years ago, none of the
accused persons had been convicted for
economic sabotage.
He called on Nigerians from all walks of life,
especially those living in communities
where the pipelines run through, to protect
them in national interest. (NAN)