There is a sigh of relief for Nigerians, as the Nigerian Midstream and Downstream Petroleum Regulatory Authority, of the Nigerian National Petroleum Corporation, NNPC, have announced to general public that the limited quantity of Premium Motor Spirit, PMS, commonly known as Petrol, with methanol quantities above Nigeria’s specification was discovered in the supply chain and it is presently been mopped out of circulation.
There was panic buying of the commodity in Lagos, Abuja, Port Harcourt and some other parts of the country, with long queues at Filling Stations.
The cost of Transport skyrocketed from Monday 7th January, 2022, making life unbearable for commuters.
The NNPC had said that Methanol, a regular additive in Petrol, usually blended in an acceptable quantity, was found in excess in over two billion liters of Fuel, making it not suitable for vehicles.
In other to ensure vehicular and equipment safety, the limited quantity of the impacted product has been isolated and withdrawn from the market, including the loaded trucks in transit, NNPC has said.
In a Statement by the regulatory body, it stated that, “Our technical team in conjunction with NNPC Ltd and other industry stakeholders, will continue to monitor and ensure quality petroleum products are adequately supplied and distributed nationwide.
“The source supplier has been identified and further commercial and appropriate actions shall be taken by the Authority and NNPC Ltd.
“NNPC Ltd and all Oil Marketing Companies have been directed to sustain sufficient distribution of Petrol in all retail outlets nationwide”.
NNPC has, however, intensified efforts at increasing the supply of Petrol into the market in order to bridge any unforeseen supply gap.
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