Fuel scarcity: NNPC imports $5.8b worth of PMS to tackle fuel crisis

Fuel scarcity: NNPC imports $5.8b worth of PMS to tackle fuel crisis. Nigeria has commenced importation of fuel to the tune of $5.8b to control and ameliorate fuel scarcity especially at festive seasons.

According to Nigeria National Petroleum Corporation (NNPC), it has imported 9.8 million metric tons of Premium Motor Spirit (PMS) to enhance stability in supply and price of the energy product.

NNPC Group Managing Director Dr. Maikanti Baru can confirm during a public hearing by the senate committee on public Accounts, at the National Assembly complex this week.

According to the GMD, the corporation’s provision of the 9.8 million metric tons of PMS has enhanced steady supply alongside control price.

Citing that the inability of independent marketers to import the product because of high landing cost poised NNPC to rescue the situation so as to fulfill its statutory obligations to the people.

Reiterating the corporation’s commitment, the GMD, pointed that cross boarder smuggling owing to high disparity of price between the country and its neighborhoods where fuel is being sold for N350 per liter has become a major challenge alongside trucking of the products to various parts of the country.

Read also: Paris Club refund: States shared N1.9 trillion to cushion effect

NNPC is working assiduously towards eliminating unwarranted traffic in fuel stations.

The Chairman senate committee on public Accounts, senator Mathew Uroghide, pointed that the public hearing has been part of lasting solutions towards ending the ugly trend of fuel scarcity.

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