NNPC Extends Closing Time for Filling Stations As Private Depot Increases Petrol Price
- The NNPC has asked filling stations to remain open longer daily amid the ongoing scarcity of petroleum products
- The decision NNPC believes will help the distribution of fuel to motorists and stop the long queues
- The NNPC has also called on Nigerians to avoid panic buying, assuring that the fuel scarcity situation is being closely monitored and will improve soon
Don't miss out! Join Legit.ng's Sports News channel on WhatsApp now!
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced that fuel stations will operate longer hours in response to the worsening fuel scarcity across the country.
Dapo Segun, the Executive Vice President of Downstream at NNPC, made this statement during a joint inspection of stations by the firm and officials from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Monday, July 8.
Source: Getty Images
According to him, longer hours will help with the supply and distribution of petrol across the country.
PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed!
NNPC also stated that the turnaround period of PMS trucking is also elongated to ease the situation being witnessed.
Under the NNPC Retail brand in Nigeria, 900 filling stations operate from 5 a.m. to 8 p.m. The filling stations are now expected to be open until 10 p.m. or later.
Why is NNPC increasing work hours?
Speaking to journalists, Segun explained that there was a gap in the ship-to-shore discharge of PMS, which he described as a volatile liquid. He added that during thunderstorms, discharging PMS is impossible, and ship-to-shore movement must be suspended for safety reasons.
His words:
"This also affected the loading of trucks at the depot due to safety concerns, requiring us to suspend operations during thunderstorms, which contributes to the current supply tightness.
"Despite the challenges posed by deteriorated motorways affected by rain and flooding across the country, we will ensure continuous loading throughout the weekend and mobilize trucks as needed.
"We are extending fuel station operating hours and encouraging marketers to collaborate and share stocks.
Rather than having a station with an excess of trucks, they can release those trucks to other stations to improve circulation."
Filling station reacts
Speaking to Legit.ng on the new directive, a filling station manager at Ikotun, Gbenga Salau said he is yet to get an instruction from his company.
He said:
"We will be closing at the expected time. There has been no formal communication from my company that we should work longer hours.
"People need to go back to their families. Besides, we don't even have supplies, so there is nothing keeping us at the station."
NNPC explains fuel scarcity
Legit.ng had earlier revealed that NNPC Ltd. explained that the fuel queues in the FCT and parts of the country resulted from supply logistics and not availability.
The oil company added that adverse weather conditions, including rainstorms and lightning, affected berthing at jetties, truck load-outs, and transportation of products to filling stations.
Private depots hike prices
Earlier, Legit.ng reported that the private depot owners hiked the ex-depot prices from N630 per litre to N720.
Several filling stations in Lagos, Ogun, and some states have reportedly run out of stock due to the high prices at private depots.
In the past, depot owners sold PMS to marketers between N630 and N650 per litre.
PAY ATTENTION: Donate to Legit Charity on Patreon. Your support matters!
Source: Legit.ng
