NNPCL petrol stock decline by 5,481,239 litres as scarcity lingers

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As the scarcity of Premium Motor Spirit (PMS) petrol has lingered, the Nigerian National Petroleum Company Limited (NNPCL), stock of the product declined marginally by 5,481,239 litres on November 7, The Nation has learnt.

Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), which dropped the hint in a document titled: “Petroleum Products Stock & Days Sufficiency Data 7th November, 2022,” said the total stock, which was 1,912725464 litres on 6th November, 2022, dropped marginally to 1,907,244,225 litres on 7th November, 2022.

The NMDPRA based its computation of average daily consumption on 60 million litres.
Whereas the stock sufficiency was previously 30.94 days, it dipped to 30.84 days on 7th November, 2022.

According to the document, the NMDPRA said on 6th November, it had 620,755,085 litres land-based stock that was closing stock less dead stock.

It noted that marine stock at berth plus offshore was 1,235,365,363,288 litres, adding that total stock less dead stock was 1,856,118,373.

The authority said depot dead stock was 56,607,091 litres, totally 1,912,725,464 .

It noted that 650,939,902 litres was land-based stock that was closing stock less dead stock.

The authority said marine stock at berth plus offshore was 1,199,676,226 litres while depot dead stock was 56,628,097 litres.

Meanwhile, there was not respite for consumers across the country yesterday as scarcity and hike dominated the media.

As our Abuja correspondent monitored the petrol market yesterday, consumers, especially motorists were still groaning over the situation.

Only a few retail outlets were opened to customers recorded with endless queues.

This resulted in a hike in remote and unmonitored filling stations.

Similarly, some vendors sold the product in plastic Jerry can at about 350 per litre.
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Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.