See NNPC explanation to fuel scarcity as filling station adjusts pumps

• The Nigerian National Petroleum Company Limited has responded to the ongoing fuel scarcity across the country
• The oil company provided an explanation for the scarcity and advised Nigerians not to panic buy
• Across the country, filling stations operated by independent petroleum marketers have adjusted their prices to as high as N900 per litre in some states

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 addressed the currency fuel scarcity in the country.

In a statement signed by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd, the company said the current scarcity is due to distribution challenges.

Filling stations adjust pump price Photo credit: Suzanne Plunkett
Source: Getty Images

Champions report that NNPC Ltd the Company further urges motorists to shun panic buying as it is working round the clock with relevant stakeholders to restore normalcy.

Part of the statement reads:

Filling stations adjust fuel prices

Amid the scarcity, Filling stations in Abuja, Lagos, and other states have again adjusted their petrol pump prices upwards.

Legit.ng observed that motorists were buying fuel at some open filling stations at prices ranging from N750 per litre to as high as N900 per litre, depending on locations.

A motorist, John Ekeh, at Ikotun, told Legit.ng that he paid N820 per litre.

Daily Trust also reported changes in pump prices at filling stations in the satellite towns of the FCT selling at N1,000 per litre.

While fuel is sold at N900-N950 in Calabar, Cross River state, motorists in Kano said they bought the petrol for N950 per litre

Nigerians convert vehicles to use cheaper fuel

Earlier, Legit.ng reported that more Nigerians are turning to Compressed Natural Gas (CNG) to cut fuel expenses, as petrol prices have increased in the past month.

Reports show that some filling stations in certain states ask motorists to pay up to N937 per litre for petrol.

The cheaper fuel alternative, sold at N200, is becoming more attractive to Nigerians.

Source: Legit.ng