NNPC To Import Additional 1.9 Billion Litres Of Petrol As DSS Begins Clampdown On Oil Marketers Involved In Hoarding
The Department of State Services (DSS) will begin to go after oil marketers that are involved in economic sabotage through the hoarding of Premium Motor Spirit (PMS) popularly called petrol.
This is just as stakeholders in the downstream sector have agreed to, within 48 hours, end the lingering fuel scarcity across the country.
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The decision was reached at a stakeholders engagement event held at the DSS Headquarters, Abuja.
In attendance were the DSS, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian National Petroleum Company Ltd, and the Major Oil Marketers Association of Nigeria.
Others are the Depot and Petroleum Marketers Association of Nigeria, the National Association of Road Transport Owners, Independent Petroleum Marketers of Nigeria and NUPENG/PTD.
A top official who was at the meeting told THE WHISTLER that all the stakeholders acknowledged that NNPC has been consistent with adequate supplies and that the problem with the fuel queues was not supplies, but rather hitches in the distribution network.
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Consequently, he said all the stakeholders made commitments to end the fuel queues situation within 48 hours, failing which the DSS will impose sanctions on defaulting marketers.
According to the official, the NNPC reaffirmed that it has an in-country stock of PMS of over 1.9 billion litres, which is over 30 days sufficiency
The NNPC was also said to have made procurement for the supply of similar volume from now till end of March 2023.
The official stated further that the NNPC also made commitments at the meeting that it will continue to sell the PMS product, ex-coastal price agreed with the Regulator to all marketers, especially the IPMAN members with a view to also providing depots specifically meant for their off-take in order to curtail the profiteering that they have been experiencing in some depots
“NNPC also committed to, and directed its operations team to engage in 24-hour loading at strategic depots for the next few days as well as to ensure some retail outlets sell for 24 hours without compromising safety and security,” he added.
