Uche Usim, Abuja
The Petroleum Products Pricing Regulatory Agency (PPPRA) has asked anxious Nigerians not to entertain any fears over possible petroleum products scarcity as there is sufficient stock of fuels at depots
The Executive Secretary of the Agency, Abdulkadir Saidu, who gave the assurance yesterday, Monday, in Abuja warned marketers against unwholesome practices that could cause Nigerians untold hardship during the period and beyond.
He explained that the average petrol inland stock between 23rd and 29th November 2019 stood at 1,145,365,386 while marine stock was 1,542,779,814 with the total stock standing at 2,688,145,200 litres.
Therefore, inland days sufficiency is 20 days, marine days sufficiency is 27 days while total days sufficiency stands at 47 days.
He added that it is also good news for users of diesel as the country has a total of 593,989,071 litres of AGO or diesel with an Inland Days Sufficiency of 29.56 days and a Marine Days Sufficiency of 12.88 days. Total days sufficiency stands at 42.44 days.
According to the PPPRA chief, Nigeria has over six days sufficiency with a total of 8,119,629 litres of HHK of household kerosene for domestic use popularly called kerosene.
The Executive Secretary, while assuring motorists of availability of petrol and diesel, also said Nigeria has more than 65 days sufficiency of Aviation Turbine Kerosene (ATK).
He explained that data available reveals that the country has 94,744,314 inland stock and 59,186,300 marine stock of ATK which translates to 40 days of inland days sufficiency and 25 days of marine days sufficiency.
The PPPRA wishes to warn marketers to operate within the ambience of the rules that guide downstream operations. The PPPRA Boss also informed that government has no intention of increasing the price of PMS, therefore there would be no need for hoarding of products by Marketers or panic-buying by consumers.
He hinted that while officials of the Agency would be deployed to monitor the conducts of the marketers during the period and beyond, the PPPRA would not hesitate to sanction any erring marketer caught engaging in irregular practice.