As reports of likely petrol scarcity push motorists into panic buying, the Nigerian National Petroleum Corporation, NNPC, yesterday said it was increasing February petrol supply with additional six cargoes.
The Acting Group Managing Director of NNPC, Saidu Mohammed, who disclosed this in Abuja while chairing an emergency meeting on the corporation’s downstream operations, also said the national oil company has put together elaborate measures to sustain steady supply of other products, especially diesel and Dual Purpose Kerosene, otherwise called kerosene, nationwide.
According to him, the NNPC plans to obtain from the Central Bank of Nigeria, CBN, an AGO foreign exchange intervention to marketers as well as Depot and Petroleum Products Marketers Associations, DAPPMAN.
He added that the corporation would convert the existing issued $144 million PMS forex intervention to AGO.
The acting MD said the move to provide additional PMS cargoes of 37,000 tonnes each was to give further comfort and stability to the robust petrol sufficiency nationwide.
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