The Nigerian National Petroleum Corporation (NNPC) and its downstream subsidiary, the Pipelines and Products Marketing Company (PPMC) has revealed that it has 1.2 billion litres of petrol in stock. The figure translates to 31 days sufficiency going by the 40 million daily consumption of the product in the country.
Managing Director of PPMC, Haruna Momoh who made the disclosure in Abuja, stated that 21 additional vessels laden with petroleum products are offshore Lagos waiting to berth.
A statement signed by the Group General Manager, Public Affiars Department of the corporation, Ohi Alegbe, NNPC said it had made adequate arrangements to ensure energy sufficiency in the country and reassured motorists that the noticeable queues at the filling stations would thin out in the days ahead.
Prince Momoh noted that the NNPC has 21 days sufficiency of diesel and 18 days sufficiency of Dual Purpose Kerosene.
He announced that as part of efforts to ensure petroleum products sufficiency and distribution, the NNPC embarked on aggressive Reception Depots rehabilitation in 2011:
“As at today, 18 depots out of the 23 depots have been fully recovered with the exception of Makurdi, Yola and Maiduguri due to the activities of pipeline vandals”.
The PPMC MD disclosed that the Corporation suffered petroleum products losses worth N408bn through pipeline vandalism in 2014 stressing that no business could survive such a loss and still remain a going concern.
Prince Momoh noted that there was a marginal increase in pipeline vandalism stressing that in 2013, the Corporation recorded 3517 vandalized points but in 2014 the figure increased to 3774.
He observed that as at today, 97 pipeline vandals are undergoing prosecution and regretted that since the cases started a few years ago none of the accused persons have been convicted for economic sabotage.
He called on Nigerians from all walks of life especially those living in communities where the pipelines run through, to protect the pipelines in the national interest.
