BREAKING: NNPCL Offers Solution As Fuel Sells At N1,000 In Some States Amid Panic Buying

The Nigerian National Petroleum Company Limited (NNPC Ltd.) announced the resolution of supply challenges causing fuel scarcity in certain regions of the country.

Logistics issues were cited as the root cause of the disruption. Chief Corporate Communications Officer, Olufemi Soneye, confirmed the development, emphasizing that petroleum product prices remain unchanged.

Responding to concerns about the scarcity, Soneye urged Nigerians to refrain from panic buying, assuring an adequate supply nationwide. Despite this assurance, motorists in the Federal Capital Territory (FCT) expressed concern over prolonged queues at fuel stations due to the shortage.

Independent marketers are selling fuel at prices ranging from N680 to N800 per litre, while NNPC Ltd. outlets maintain a stable price of N617 per litre. Meanwhile, black market vendors are capitalizing on the scarcity, selling fuel at exorbitant rates exceeding N1,000 per litre in Abuja, Kaduna and other states amid panic buying by users.