The Nigerian National Petroleum Company (NNPC) Limited has clarified that the tight supply of Premium Motor Spirit (PMS), also known as Petrol, currently being experienced in some areas across the country is a result of logistics issues, which have been resolved.
The Chief Corporate Communications Officer of NNPC Ltd, Olufemi Soneye, made this known in a statement issued on Thursday in Abuja.
The company also reiterated that the prices of petroleum products are not changing and urged Nigerians to avoid panic buying as there is a sufficient supply of products in the country.
Meanwhile, the NNPC Ltd.’s move to boost local refining capacity witnessed a boost today with the signing of a share subscription agreement between NNPC Limited and African Refinery Port Harcourt Limited for the co-location of a 100,000bpd capacity refinery within the PHRC complex.
The company said the signing of the agreement is a significant step towards starting the process of building a new refinery. It added that when fully operational, it will supply PMS, AGO, ATK, LPG, and other petroleum products to the local and international markets and provide employment opportunities for Nigerians.
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