Thursday, Jul 9th 2020 7:46 AM

Market Digest Nigeria


PPPRA promises fuel availability during Christmas season


The Petroleum Products Pricing Regulatory Agency (PPPRA) has promised Nigerians of availability of fuel products throughout the yuletide period.

The information was given in a statement by the Executive Secretary of the Agency, Abdulkadir Saidu, in Abuja. He warned marketers against unwholesome practices that could cause Nigerians untold hardship during the period and beyond.

He explained that the average petrol inland stock between Nov. 23rd and 29th stood at 1,145,365,386 while marine stock was 1,542,779,814 with the total stock standing at 2,688,145,200 litres. “Therefore, inland days sufficiency is 20 days, marine days sufficiency is 27 days while total days sufficiency stands at 47 days,’’ he said.

He added that the country had a total of 593,989,071 litres of AGO or diesel with an Inland days Sufficiency of 29.56 days and a Marine days Sufficiency of 12.88 days. According to him, total days sufficiency stands at 42.44 days. He reiterated that the country had over six days sufficiency with a total of 8,119,629 litres Household kerosene (HHk) for domestic use popularly called kerosene.

The Executive Secretary, while assuring motorists of availability of petrol and diesel, also said Nigeria had more than 65 days sufficiency of Aviation Turbine Kerosene (ATK). He explained that data available reveals that the country has 94, 744, 314 inland stock and 59,186,300 marine stock of ATK which translates to 40 days of inland days sufficiency and 25 days of marine days sufficiency.

He warned marketers to operate within the ambience of the rules that guide downstream operations. The PPPRA Boss further informed that government had no intention of increasing the price of PMS adding that there was no need for hoarding of products by Marketers or panic-buying by consumers. He hinted that while officials of the Agency would be deployed to monitor the conducts of the marketers during the period and beyond, the PPPRA would not hesitate to sanction any erring marketer caught engaging in irregular practice.

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