Fuel scarcity lingers, as NNPCL stock decline by over 5 million litres

As the scarcity of Premium Motor Spirit (PMS), otherwise known as petrol, has lingered, the Nigerian National Petroleum Company Limited (NNPCL)’s Monday’s stock of the product has reportedly declined marginally, by over 5 million litres.

The Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), which dropped the hint in a document, titled: “Petroleum Products Stock & Days Sufficiency Data 7th November, 2022”, said the total stock, which was 1,912,725,464 litres on 6th November, 2022, dropped marginally to 1,907,244,225 litres on 7th November, 2022.

The NMDPRA based its computation of average daily consumption on 60 million litres. Whereas the stock sufficiency was previously 30.94 days, it dipped to 30.84 days on 7th November, 2022.

According to the document, the NMDPRA said on 6th November, it had over 620 million litres land-based stock that was closing stock less dead stock. It noted that total stock less dead stock was over 1 billion litres.

Meanwhile, there was no respite for consumers across the country yesterday as scarcity and hike dominated the media.

From the petrol market situation monitored in Abuja yesterday, consumers, especially motorists were still groaning over the situation. Only a few retail outlets were opened to customers, with endless queues becoming a constant feature. This resulted in a hike in remote and unmonitored filling stations.

Similarly, some vendors sold the product in plastic Jerry cans at about N350 per litre.

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