The Nation
Premium Motor Spirit (PMS) popularly known as petrol sufficiency days and stock figures are receding, The Nation learnt on Tuesday.
Whereas the Nigerian National Petroleum Corporation (NNPC) used to boast about 30 to 40- day stock sufficiency and about 2 billion metres, the record has dipped to 24.02-day sufficiency and about 1,345,338,930 litres stock of petrol.
This was evident in a document titled: “Petroleum Products Stock & Days Sufficiency Report 27th January 2022,” which The Nation obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday.
Recall that while petrol consumers embarked on panic buying in the countdown to the last Christmas and New Year festivals, the Group General Manager, Group Public Affairs Division, Malam Garba Deen Muhammad on 14th December 2021 stated NNPC raised its reserves from 1.7billion litres to 2 billion litres.
He said: “Indeed, our stock has risen from a reserve of 1.7 billion litres to over two billion litres within the last one month.”
Nigeria consumes between 54 million to 60 million petrol daily.
