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NNPC denies stopping fuel importation

21 October 2013, 09:27

Abuja - The management of Nigerian National Petroleum Corporation (NNPC) says it has not stopped importation of petroleum products as reported by a section of  the local and international media.

This was  contained in a statement issued in Abuja on Sunday by NNPC’s  acting Group General Manager (Public Affairs), Tumini Green.

The statement said  petrol supply in the system was in line with the approved quota for the national demand to ensure “seamless supply especially in the last quarter of the year.”

“The NNPC as supplier of  last resort has responsibility for maintaining a robust strategic reserve with additional reasonable buffer in line with the nation’s energy supply policy,’’ it said.

The statement said that the corporation's petrol stock holding was in tandem with the approved PPPRA allocation to NNPC and assured that the stock level covered marine, inland and strategic stock.

It added  that as at  Thursday,  the marine stock offshore stood at 19 cargoes translating  to 25-day sufficiency as part of the national strategic reserve.

The statement said  the aggregate strategic reserve had been misrepresented in some media as marine stock lying offshore.

Strategic reserve is an alternative product reserved to cushion the effect of unexpected scarcity of the petroleum products in the country.

The statement said that the NNPC had taken proactive measures to ensure stable supply of petroleum products across the country, especially as the end of year festive period approaches.

The News Agency of Nigeria (NAN) recalls  that a section of the media had reported that NNPC had stopped petrol importation due to glut and challenges at the various ports.

-  NAN

Tags pppra nnpc

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