Yemisi Izuora
The Department of Petroleum Resources (DPR) said government has imported about 800 million litres of petrol.
The product is expected to arrive the country before end of the week to stabilize product supply across the country.
The agency also said that there is no need for the public to embark on panic buying as current stock is about 365million litres and at various depots nationwide.
Consequent upon sharp practices of marketers resulting in panic buying and queues at filling stations, the DPR has set up a 24hours surveillance monitoring team of Petrol Stations nationwide to ensure unhindered sale of Petroleum Products at government regulated prices.
“This is in response to reported cases of panic buying in some Petrol Stations across the country” it said in a statement released in Lagos.
“The DPR wishes to state that the current stock level of Premium Motor Spirit (PMS) in depots nationwide is about 365million litres and we are also expecting over 800million seaborne litres to be discharged before the end of the week.
This translates to a stock level for thirty (30) days’ supply.
To further ensure the supply of products, DPR has fast tracked the grant of product import permits and vessel clearing process to aid rapid stock build up for importers” the agency said.
It appealed to all Depots and Petroleum Product Retail Outlets nationwide to ensure that products are sold at government regulated price as the DPR will not hesitate to enforce necessary sanctions against any erring marketer.
The statement said “The General Public is hereby advised not to engage in panic buying as there is adequate supply of petroleum Products nationwide”.