The Nigerian National Petroleum Company (NNPC) Limited said it has resolved the tight supply of Premium Motor Spirit (PMS) in some areas across the country, attributing the issue to logistics problems that have now been addressed.
Chief Corporate Communications Officer, Olufemi Soneye emphasised this in a statement issued in Abuja.
Soneye also reassured the public that petroleum product prices remain stable and urged Nigerians to refrain from panic buying, as there is an ample supply of products in the country.
In a move to enhance local refining capacity, NNPC Ltd. signed a share subscription agreement with African Refinery Port Harcourt Limited for the co-location of a 100,000bpd capacity refinery within the PHRC complex.
The company highlighted this as a significant step towards the construction of a new refinery, which, when operational, will supply various petroleum products to both local and international markets and create employment opportunities for Nigerians.
