The Nigerian National Petroleum Company (NNPC) Limited has dismissed news of fuel scarcity following long queues in some parts of Lagos and a few other locations around the country.
The retail management of the NNPC in a statement today, said the queues are due to reduced Depot loadout in Apapa, Lagos over a few days, adding that the root cause of the queues has since been addressed.
According to him, there is ample supply with sufficiency of at least 30 days, advising motorists to desist from panic buying as distribution will normalize over the next couple of days.
The last notable queues at petrol stations happened in May after President Bola Tinubu announced an end to fuel subsidy during his inauguration, noting that the 2023 budget made no provision for fuel subsidy and more so, subsidy payment is no longer justifiable.
The announcement had led to scarcity of petroleum products, resulting in long queues at petrol stations across the country, with a litre of petrol rising from N184 per litre in Lagos to over N500
