Economy

NNPC: Fuel scarcity, hike in fuel pump price a hoax

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Written by Maritime First

The Nigerian National Petroleum Corporation (NNPC) on Friday described as a hoax, the trending social media report of impending fuel scarcity, followed by pump price hike.

The NNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu indicated this in Abuja, appealing to Nigerians to also disregard the rumour of purported refusal by some oil marketers to lift products from depots.

He explained that the tale was fabricated by mischief makers with intent to create undue panic in the prevailing sanity in the fuel supply and distribution matrix across the country.

He said that the NNPC has over one billion litres of petrol in stock while imports of 48 vessels of 50million litres each have been committed for the month of April 2019 alone.

He noted that there was no need for panic buying or hoarding of petroleum products in anticipation of a phantom scarcity.

Ughamadu reiterated that the pump price of petrol remained N145 per litre.

A check by the MARITIME FIRST in Lagos on Friday showed that motorists have embarked on serious panic buying, because most petrol stations had no fuel, while the few still dispensing petrol had long, disturbingly distracting queues.

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