We have 1. 2bn litres of petrol in stock , NNPC boasts

The Nigerian National Petroleum Corporation (NNPC ) and its downstream subsidiary , the Pipelines and Products Marketing Company (PPMC) , said they had 1 . 2 billion litres of petrol in stock .

This was contained in a statement issued in Abuja on Thursday by Mr Ohi Alegbe , Group General Manager , Group Public Affairs Department , NNPC.
The statement stated that the figure translated to 31 days sufficiency , going by the 40 million litres daily consumption of the product in the country . It explained that the Managing Director of PPMC, Mr Haruna Momoh, made the announcement in Abuja.

It quoted Haruna as saying that “ 21 additional vessels laden with petroleum products are in offshore Lagos waiting to berth . “ NNPC has 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 said that the NNPC also had 21 days sufficiency of Automotive Gas Oil (AGO ) otherwise known as diesel and 18 days sufficiency of Dual Purpose Kerosene ( DPK ) , otherwise known as kerosene .

He said that as part of efforts to ensure petroleum products ’ sufficiency and distribution , the NNPC embarked on aggressive Reception Depots rehabilitation in 2011 . “ 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 , ” he said.

The PPMC MD disclosed that the corporation suffered petroleum products losses worth N 40 . 8bn through pipeline vandalism in 2014 .
He said that no business could survive such a loss and still remained a growing concern .

Momoh said there was a marginal increase in pipeline vandalism , stressing that in 2013 , the corporation
recorded 3 , 517 vandalised points but in 2014, the figure increased to 3 , 774.
He said that “as at today, 97 pipeline vandals are undergoing prosecution ” .
Momoh expressed regret that since the cases started a few years ago, none of the accused persons had been convicted for economic sabotage .

He called on Nigerians from all walks of life , especially those living in communities where the pipelines run
through , to protect them in national interest .