Emmanuel Addeh in Abuja
The federal government yesterday assured Nigerians of an adequate fuel supply during the holiday season and beyond, saying it currently has over 2.2 billion reserves to last about 40 days.
In addition to gasoline, the government said it had enough supplies of diesel and air fuel, which is expected to last 45 and 34 days, respectively.
A statement by Abdulkadir Saidu, executive director of the Regulatory Agency for the Pricing of Petroleum Products (PPPRA) in Abuja, warned traders against market manipulation so as not to get the country in trouble.
“PPPRA ensures that Nigerians have access to petroleum products during the yuletid period. The average stock of Premium Motor Spirit (PMS), also known as gasoline, for land and sea vessels between 12 and 18 December 2020 was 2,230,400,000 liters. That means enough 39.83 days.
“The country also has a total average volume of 623,080,000 liters of automotive gasoline (AGO) or diesel with a sufficient amount of 44.51 days, which signals good news for luxury buses that are expected to dominate long journeys during the festive season.
“In addition to the availability of gasoline and diesel, Nigeria has a 25-day supply of aircraft turbine kerosene (ATK) with a total of 75,780,000 liters and a 34.18-day sufficiency with a total of 25,293,200 liters of household kerosene (HHK) for domestic use.
“PPPRA advises traders to act within the rules governing downstream operations and to avoid unhealthy practices that could create inconvenient difficulties for Nigerians during the holiday season and beyond,” the statement said.
PPPRA reiterated that, when fully operational, the recent introduction of an autogas scheme will ensure that cheaper and cleaner fuels are available to Nigerians.
It adds: “The Federal Government remains intensively focused on the implementation of the National Gas Expansion Program (NGEP); its master plan for gas which will result in many fuel outlets being able to issue gas to motorists in the new year.
“The introduction of NGEP autogas from December 1, 2020 and the continuous exercise of converting tanks for motor vehicles in various centers will announce the spread of a cheaper and cleaner alternative to gasoline for Nigerians.
“With the growing confidence of investors in the country’s downstream oil catalyzed by a policy of deregulation and joint efforts to update the” Year of Gas “, PPPRA wants to reassure all stakeholders that the vision for a vibrant, self-sustaining downstream sector remains a priority and we work tirelessly. “