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 premium motor spirit (PMS) otherwise known as petrol, in stock.
The figure translates to 31 days sufficiency going by the 40 million daily consumption of the product in the country.
The Managing Director of PPMC, Prince Haruna Momoh who made the disclosure in Abuja, further stated that 21 additional vessels laden with petroleum products are offshore Lagos waiting to berth.
He said the NNPC 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.
Momoh noted that the NNPC has 21 days sufficiency of Automative Gas Oil (AGO) otherwise known as diesel and 18 days sufficiency of Dual Purpose Kerosene (DPK) otherwise known as 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 adding: “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 N40.8bn through pipeline vandalism in 2014 stressing that no business could survive such a loss and still remain a great concern.
Prince Momoh explained 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 however called on Nigerians from all walks of life especially those living in communities where the pipelines run through, to protect the pipelines in the interest of the nation.