As the nationwide supply and distribution of Premium Motor Spirit, also known as petrol continues to improve, the Nigerian National Petroleum Company (NNPC) Limited has cautioned against panic buying, saying it has over 1.5 billion litres of products in stock.

A statement issued by the company’s Chief Corporate Communications Officer, OLUFEMI SONEYE in Abuja, said the 1.5 billion litres equals 30 days of product sufficiency. 

The NNPCL said it had monitored filling stations across several states, including Lagos and the FCT, and has noticed that fuel queues have since thinned out.

The national oil company added that it is also collaborating with relevant downstream agencies, such as the Nigeran Midstream & Downstream Petroleum Regulatory Authority, labour unions in the sector, and security operatives, to address hoarding and other unwholesome practices.