The
Nigerian National Petroleum Corporation (NNPC), said it has doubled the
daily supply of Premium Motor Spirit (PMS), otherwise called petrol,
from 30million litres to 80million litres per day since the current
hiccup in the supply chain was noticed a few days back.
Group
Managing Director of the NNPC Dr. Maikanti Barud disclosed this shortly
before the signing ceremony of a memorandum of Understanding (MoU)
between the Corporation and the Benue State Government on the
Agasha-Guma Bio-fuels Projects, in Abuja on Tuesday.
The GMD attributed the hiccups in the supply of PMS to rumours about purported planned increase in the price of petrol.
According
to a statement by NNPC spokesman Ndu Ughamadu, the GMD stated that some
marketers, in their quest to cash in on the situation, suddenly started
hoarding products.
“But we swiftly swung into action by doubling
our supply nationwide. At the time the rumour started, we had about 30
day sufficiency. The normal daily supply to the nation is 700 trucks,
equaling about 27-30m litres per day.
He said that the NNPC has enough products sufficiency that will last up to 30 days.
Dr.
Baru said that at least a billion litre petrol laden cargoes were
heading to Nigeria shores at the end of December which he noted would
return the country to a 30-day-plus sufficiency.
While
signing the MoU on the Bio-fuels Project with the Benue State
Government, Baru said the project would provide employment for the
teeming youths in the state.
Earlier in his remarks, Deputy
Governor of Benue State, Engr. Benson Abounu, pledged the support of the
entire Benue citizens to the project, adding that various host
communities for the project would give their 100% for its success.
The
Agasha-Guma bio-fuels project aims at developing Integrated Sugarcane
Plantation and Fuel-Ethanol/Sugar/Power Plant Complex in Benue State
through a Special Purpose Vehicle (SPV).
Expected to create one
million direct and indirect jobs for Nigerians on completion, the
project will also produce about 84 million litres of fuel ethanol
annually.
NNPC plans to mobilize to Site by First Quarter of 2018.
from dailytrust