The Nigerian National Petroleum Corporation (NNPC), on Tuesday said it was engaging with oil marketers to settle the issue of subsidy payments, hence calling on the general public to discountenance the threat of causing fuel scarcity made by the marketers.

While making it known that it was already engaging other agencies of government to address the demands of the oil dealers, the NNPC clarified that Nigeria will not encounter a scarcity of Premium Motor Spirit, popularly known as petrol.

The corporation maintained that there was no need to panic as it had sufficient stock of petrol to keep the country wet.

Ndu Ughamadu, Group General Manager, Group Public Affairs Division, NNPC, said there was no need to panic despite the oil marketers’ ultimatum. “No cause for worries. We have a robust fuel stock and high sufficiency level. Consumers should not panic.”

Asked whether the corporation had reached out to the marketers to address their concerns, the NNPC senior official stated that the oil firm was not only engaging the oil dealers but was also meeting with the Federal Ministry of Finance and the Debt Management Office to resolve the matter.

According to Ughamadu, there had been positive outcomes with regards to resolving the marketers’ concerns.


“NNPC is engaging marketers’ bodies, Federal Ministry of Finance and the Debt Management Office on the issue. Going by positive outcomes so far, we are optimistic of a prompt resolution of the contending matter,” he added.

Airwavesreport had reported that should the Federal Government fail to settle outstanding debts totalling N800 billion, there may be a fuel scarcity during the festive season as oil marketers have unanimously issued a seven-day ultimatum to the President Muhammadu Buhari-led administration.

The oil marketers, comprising Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association (DPPMA) and Independent Petroleum Products Importers (IPPI), said failure to meet the deadline would force its members to disengage workers from depots across the country.

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