Oil Marketers Threat: NNPC Allays Scarcity Fears

The Nigerian National Petroleum Corporation has said that Nigeria will not encounter a scarcity of Premium Motor Spirit, popularly known as petrol, this season regardless of the recent threat and ultimatum by oil marketers.

The corporation said it was engaging the marketers and other agencies of government to address the demands of the oil dealers but declared that there was no need to panic as it had sufficient stock of petrol to keep the country wet during the yuletide.

This comes as oil marketers on Sunday issued a seven-day ultimatum to the Federal Government for the payment of all outstanding subsidy debts including foreign exchange differentials and interest rate component owed to them.

Reacting to the development, the Group General Manager, Group Public Affairs Division, NNPC, Ndu Ughamadu, told Punch that there was no need to panic despite the oil marketers’ ultimatum.

Ughamadu said, “No cause for worries. We have a robust fuel stock and high sufficiency level. Consumers should not panic.”

He added that the oil firm was not only engaging the oil dealers, but was also meeting with the Federal Ministry of Finance and the Debt Management Office to resolve the matter.

“NNPC is engaging marketers’ bodies, Federal Ministry of Finance and the Debt Management Office on the issue. Going by positive outcomes so far, we are optimistic of a prompt resolution of the contending matter,” he said.

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