NNPC Blames Panic Buying, Hoarding For Fuel Scarcity

Must Read

Man Shoots Brother Dead Over Dog Meat

A man has reportedly murdered his brother over dog meat. The deceased, Attah Azimma died during a fight with his...

With 1 Game At Hand, Liverpool Open 16 Points Lead At The Top Of The Table

Liverpool have opened up a 16 points lead at the top of the league table following their 2-1 defeat...

Nnamdi Azikiwe University Grants 24 Readers Professorial Chair

According to reports, Nnamdi Azikiwe University has granted twenty-four academic staff members of the institution full professorial chair. This was...

Nigerian Newspaper Headlines Today: 24th January 2020

  We Are Working Hard To Avoid Spread Of Lassa Fever: Governors The Nigeria Governors Forum (NGF) says states are taking...

Kwankwaso Is The Most Selfish Person I Know: Ganduje

  Abdullahi Ganduje, governor of Kano, has described his predecessor, Rabiu Kwankwaso, as the most selfish person he knows. Ganduje had...


The Nigerian National Petroleum Corporation (NNPC), yesterday, promised to put an end to the growing fuel crisis across the country.

“On Friday, we had stated that in 48 hours we will wet the market with 688 million litres of petrol. Distribution of products is by trucking. You will agree that it is some distance from the depots and tank farms in the south to the depots and retail outlets in the hinterland. […]the queues should disappear before long,” NNPC spokesman, Ohi Alegbe told Vanguard.

He blamed the scarcity on panic buying by motorists and sharp practices by some retail outlets who are hoarding the commodity.

“Panic buying has persisted in spite of our appeal to motorists. Secondly, some retail outlets are hoarding the product by dispensing from only one pump head. We have reported some of them to the DPR and we believe appropriate sanctions will be meted out to them appropriately,” Alegbe added.

The NNPC had on Friday said it was flooding the market with about 688 million litres of Premium Motor Spirit (PMS), but scarcity has persisted, especially in major towns like Abuja, Lagos and Enugu, among others. The situation is expected to improve this week if consumers of the fuel will stop panic buying and retailers stop hoarding.

- Advertisement -


Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -