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Nairaland Forum / Nairaland / General / Politics / NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency (2391 Views)
‘Stop Panic Buying’ — NNPC Assures Nigerians Of 30-Day Petrol Stock / Marketers Raise Petrol Price To ₦170, Depots Suffer Shortage / Buhari Directs NNPC To Take Over The Operations Of Oil Wells (2) (3) (4)
NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by mrakeli62: 5:12am On Nov 29, 2018 |
The Nigerian National Petroleum Corporation (NNPC) wednesday said it would raise the level of current petrol stock from 45 to 50 days, stating that this should provide adequate supply buffer for the country going into the impending Christmas and New Year season. The NNPC also urged, through its subsidiary, Petroleum Products Marketing Company (PPMC), oil marketers under the aegis of Major Marketers Association of Nigeria (MOMAN), to regulate the volumes of petroleum products they send to their members’ affiliate stations close to Nigeria’s borders with other African countries The move is to stem the smuggling of the country’s cheap petroleum products to other countries. A statement from the Group General Manager Public Affairs of the NNPC, Mr. Ndu Ughamadu, quoted the Managing Director of PPMC, Mr. Umar Ajiya, to have said these when he met with executives of MOMAN in Lagos. Ajiya explained that price arbitrage which is the differential between the regulated price of petrol in Nigeria and high products prices in neighbouring countries now encourages smuggling of products from Nigeria to these countries. He, however, expressed confidence that MOMAN would take up the challenge, adding that its members have remained the most reliable partners in the country’s downstream petroleum sector. According to him, the NNPC and PPMC have built up adequate stock of petrol and other products, and that their petrol stock alone would last about 45 days even in the absence of fresh supplies. But he stressed that their target was to get the sufficiency level to 50 days. “We have 2.2 billion litres of petrol, 1.1 billion on land and 1.1 billion on marine, 800 million litres in PPMC depots in addition to 27-day sufficiency of AGO, 98-day sufficiency of ATK and 48-day sufficiency of DPK,” Ajiya said. He implored MOMAN to take advantage of the stock sufficiency and request for more products for their stations across the country. Ajiya equally stated that the corporation has stocked in products in its nine Inland depots, including Enugu and Aba and will begin to sell them by December 1, 2018, with a view to forestalling frequent shortages being experienced during Christmas and New Year in the eastern part of the country. In the statement, the Executive Secretary of MOMAN, Mr. Clement Isong, said the association was committed to taking more products to their stations across the country. Isong said: “We are ready to support NNPC/PPMC to flood the country with products during the Yuletide season and beyond as we go into general elections next year.” https://www.akelicious.net/2018/11/nnpc-to-raise-petrol-stock-levels-to-50.html
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Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by tamonokare: 5:46am On Nov 29, 2018 |
Good one NNPC. 2 Likes |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Magalan: 5:56am On Nov 29, 2018 |
Give account on the subsidy fraud on NNPC exposed by the Governors and NASS. 1 Like |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Kneephy(m): 5:57am On Nov 29, 2018 |
It's a long time coming! |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Hez143(m): 6:01am On Nov 29, 2018 |
nice measures there,thumbs up for them. but is that not CLEMENT ISONG that works as director of currency at CBN before? |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by iKoksi(m): 6:02am On Nov 29, 2018 |
mrakeli62: America has 100 Years stock supply. thank you 1 Like |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Nobody: 6:03am On Nov 29, 2018 |
Isong said: “We are ready to support NNPC/PPMC to flood the country with products during the Yuletide season and beyond as we go into general elections next year.”....... Good news. Keep up the good work. 3 Likes 2 Shares |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by greatiyk4u(m): 6:06am On Nov 29, 2018 |
A step in the right direction, no room for errors to avoid ceding some votes to the known Looter 1 Like |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by ArmaniUhuru: 6:07am On Nov 29, 2018 |
mrakeli62: (In 2baba’s voice) E be like say them want to tell another story again o. E be like say them want to do another deceiving again o. |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by RanayP(m): 6:11am On Nov 29, 2018 |
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Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by flejnr2(f): 6:16am On Nov 29, 2018 |
The only news we wan hear be say fuel price don drop. All these grammar no concern us 1 Like |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Alejob: 6:19am On Nov 29, 2018 |
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Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Corrinthians(m): 6:25am On Nov 29, 2018 |
Greedy marketers who tend to reap Nigerians off with the approaching yuletide right now.. 1 Like 1 Share
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Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Sashacrystal007: 6:27am On Nov 29, 2018 |
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Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Stalwert: 6:45am On Nov 29, 2018 |
[s] iKoksi:[/s] But America was not stealing its future foolishly or breaking pipelines ceaselessly. Neither do Americans defend corrupt politicians |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Ejebleje: 6:47am On Nov 29, 2018 |
My brethen,when ye read news like this,know that it’s about to go down! Act accordingly. Be wise! |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Tamart: 7:00am On Nov 29, 2018 |
Good one |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by hustler86(m): 7:01am On Nov 29, 2018 |
Saving up for the rainy day... Good thinking, good outcome if we'll monitored. |
Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by martineverest(m): 7:11am On Nov 29, 2018 |
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Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Stalwert: 7:18am On Nov 29, 2018 |
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Re: NNPC To Raise Petrol Stock Levels To 50 Days Supply Sufficiency by Nobody: 8:15am On Nov 29, 2018 |
Why not fence off your borders like America has walls with Mexico and place border patrol |
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