Operator decries PMS panic buying

Managing Director of Pinnacle Oil and Gas Limited, Dr. Peter Ndubuisi Mbah, has enjoined Nigerians to cease panic buying of petroleum products, assuring that supply is enough to guarantee stable supply.

Mbah, who spoke against the background of continued queues at filling stations across the country, said that his company’s facility at Lekki Free Trade Zone has been receiving a steady supply of petroleum products.
He said: “What makes it unique is her ability to receive huge supply at a time, this is perhaps the only facility in the country, where you can discharge over 100 million litres of petroleum products within 72hours.”

He said the facility received a volume of over 70 million litres.

His words: “The idea is for us to send a very strong message to the general public that there is no reason for panic buying, there is no reason for the hysteria because the supply is coming.

“We are going to receive another supply of 80 million litres and we can truck over 20 million litres daily. The supply is being distributed to the market.

“There is no reason for anybody to panic, there is no reason for the hysteria. There is enough supply coming in and there will be enough distribution across all the retail outlets.”

Despite assurances from stakeholders and the Nigeria National Petroleum Company Limited, motorists continue to groan in Abuja as sharp practices continue at filling stations.