The Managing Director of the Petroleum Products Marketing Company (PPMC), Mr Umar Ajiya, has urged Major Marketers Association of Nigeria (MOMAN) to regulate the volume of petroleum products dispatched to their member stations close to the borders.
Ajiya in a statement issued by the Nigerian National Petroleum Corporation’s(NNPC) spokesman, Mr Ndu Ughamadu in Abuja on Wednesday said it would stem cross border leakages and forestall attendant product price hikes.
He said that price arbitrage and differential between regulated price in Nigeria and the high product prices in neighbouring countries encouraged smuggling.
Ajiya noted that MOMAN and its members remained most reliable in the Nigerian Downstream Petroleum Sector distribution network.
He advised that members of the Association should endeavour to increase the respective storage in their depots and stations to avoid stock-out as the yuletide approached.
He said that NNPC/PPMC had enough stock of Premium Motor Spirit (PMS) otherwise called petrol, as well as other products, adding that the company’s petrol stock alone would last about 45days.
According to him, the target is to get the sufficiency level to 50 days.
“We have 2.2 billion litres of petrol, 1.1 on land and 1.1 on marine, 800 million litres in PPMC depots in addition to 27-day sufficiency of AGO, 98-day sufficiency of ATK and 48-day sufficiency of DPK,’’ Ajiya said.
He implored MOMAN to take advantage of the NNPC/PPMC stock sufficiency and request for products to always wet members’stations across the country.
He further disclosed that NNPC/PPMC had stocked-in products in the nine Inland depots, including Enugu and Aba and would commence selling by Saturday.
This, he said was with a view to forestalling frequent shortages being experienced during Christmas and New Year in the eastern part of the country.
On his part, MOMAN executive secretary, Mr Clement Isong, said the association was committed to wetting stations in state capitals and other locations across the country.
“We are ready to support NNPC/PPMC to flood the nation with products during the yuletide season and beyond as we go into general elections next year,’’ Isong said.
He encouraged NNPC/PPMC management to sustain the tempo of petroleum products supply to MOMAN to ensure product availability at all times.