Petroleum Regulatory Agency Warns Against Panic Buying


(VON) The Petroleum Products Pricing Regulatory Agency in Nigeria says, the National Petroleum Products Stock data and import plan, currently indicate that the country has two months Premium Motor Spirit sufficiency, hence no need for panic buying.

The Corporation stated this in a statement to clarify on-going stories and speculations in the media of an imminent fuel scarcity over Marketers’ unpaid debt and non-availability of foreign exchange (FOREX) to fund fuel imports of PMS.

The corporation therefore assured motorists and commuters that the products supply situation is robust and able to cater for the fuel needs of all Nigerians, pending when ongoing challenges are addressed.

PPPRA also appealed to all Depot Owners to adhere strictly to the subsisting truck-out principle in order to ensure that products get to retail outlets across the country in a seamless manner.



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