Fuel scarcity: NNPC cautions against panic buying

The general public is hereby advised not to engage in panic buying of Premium Motor Spirit, more commonly known as petrol.

The NNPC has over 1.7 billion litres of petrol in stock and more product is expected to arrive into the country daily over the coming weeks and months.

It is 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 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.

The NNPC is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond.

Meanwhile ,the Independent Petroleum Marketers Association of Nigeria (IPMAN) has constituted a taskforce to check hoarding of products by fuel station operators.

The Chairman of IPMAN, Kano Zone, Alhaji Bashir Danmallam, made the disclosure on Monday in Kano in a statement issued to newsmen.

He said that the task force would work in collaboration with the Nigeria National Petroleum Corporation (NNPC) to ensure availability of fuel at filling stations across the country.

The chairman noted that any marketer found hoarding products would be dealt with.

“IPMAN will not allow some unscrupulous elements within its fold to inflict hardship on innocent Nigerians,” he added.

The chairman noted that available records showed that 210 petroleum tankers were loaded with the products for distribution nationwide on Monday.

He called on Nigerians not to panic, adding that products being supplied would be more than enough for their use.

“I urge people not to panic, panicking is what causes long queues at filling stations because people have the impression that the products will be scarce.

“IPMAN, NNPC and other stakeholders are on top of the situation, rest assured that this problem will not last long,” he said.

Danmallam said that the government had assured them that there was no plan to hike fuel price.

“IPMAN had contacted all stakeholders in the petroleum sector and they assured them that there is no plan to increase the price of fuel at the moment,” the chairman noted.

In another development, the GMD/CEO of NNPC Ltd, Mallam Mele Kyari has been commended for transforming the fortunes of the NNPC from a position of loss-making into a profit- making venture.

The Public Policy Research & Analysis Centre (PPRAC) gave this commendation while conferring its “2020 Zik Prize for Public Service Leadership’’ on the GMD, at the Eko Hotel, Lagos, at the weekend.

At a well-attended event also witnessed by the Emir of Kano, Alh. Aminu Ado Bayero; Emir of Lafia, Justice Sidi Bage (rtd) and several other dignitaries, Kyari received the latest recognition from the Kebbi State Governor, Abubakar Atiku Bagudu.

Speaking on behalf of the Centre, Chief Mac Wabara said Mallam Kyari was recognized following his distinguished leadership role and sterling achievements in the NNPC, which are all evident through the various reforms he instituted at the Corporation through transparency and accountability.

He said: “Mele Kyari continues to seamlessly transform the operations of NNPC, including deepening domestic gas utilization, rehabilitation of the nation’s refineries and public disclosure of NNPC accounts, the first in NNPC’s 44 years of existence.”

He added that Kyari’s greatest achievement, no doubt, was turning around the fortunes of the NNPC, from a loss of position, into a profit-making entity.

“Under Kyari’s watch at the NNPC, the company declared a profit after tax of N287bn in 2020 after losses were reduced from N803bn in 2018 to N1.7bn in 2019. This is unprecedented in the history of the NNPC,” Wabara stated.

He further explained that Mallam Kyari also consistently played a huge role in the enactment of the Petroleum Industry Act (PIA), stressing that with the coming of the legislation, the NNPC is now well-positioned to operate efficiently, like its global peers.

Responding, Mallam Kyari said in the last two years, the NNPC has automated its processes and systems; reduced its costs of operations and focused on delivering value to Nigerians, in line with his Management vision of Transparency, Accountability & Performance Excellence (TAPE).

He added that the enactment of the Petroleum Industry Act (PIA) has placed huge responsibility on the NNPC to do things differently and be much more accountable to its shareholders, the over 200 million Nigerians.

He said the Zik Leadership award will spur him and his Management team to work harder towards becoming an International National Oil Company that is at par with its global peers.

Other recipients of the prestigious Zik Leadership Award include the Lagos State Governor Babajide Sanwo-Olu; Nasarawa State Governor, Engr. Abdullahi Sule; former Secretary to the Government of the Federation, Chief Anyim Pius Anyim; Minister of State for Health, Senator Olorunimbe Mamora; Director-General and CEO of the Nigerian Maritime and Safety Agency (NIMASA), Dr. Bashir Jamo and MD/CEO of the Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji.

Established in 1994 by the PPRAC and now in its 26th edition, the Zik Prize in Leadership is aimed at highlighting Dr. Nnamdi Azikiwe’s legacy of patriotic fervor and nationalist vision.

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