Amid fuel scarcity across the country which led to hikes in the prices of petrol which is sold for over N1,000 at some filling stations, the Nigerian National Petroleum Company (NNPC) Limited has urged citizens not to engage in the panic buying of the product.

The NNPCL on Tuesday said as “the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product”.

It said that “queues have since thinned out” in filling stations “monitored across several states, including Lagos and the FCT”.

It noted that the situation “will keep improving daily in other states”.

A statement signed by the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, on Tuesday, said, “The Company wishes to state that at the moment, it has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency.

“The NNPC Ltd. is also collaborating with relevant downstream agencies, such as the Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives, to address hoarding and other unwholesome practices.”