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Oil marketers fault NNPCL 34 days sufficiency claim

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Oil marketers in the country have questioned claims by the Nigerian Midstream and Downstream Petroleum Regulatory Authority that Nigerian National Petroleum Company Limited has petrol stock that could last for 34 days.

The oil marketers argued that the products are “hanging on the high sea”.

Former Chairman, Major Oil Marketers Association of Nigeria, and Chairman/Chief Executive Officer, 11 Plc, Tunji Oyebanji, said on the sideline of the Institute of Change Management lecture and dinner on ‘Impact of Insecurity and Oil Subsidy on Nigeria’s Economy’ held in Lagos that majority of the products purported to have been imported by the NNPCL were yet to get to the depots and retail stations.

“The issue is that the quantity of fuel available is one thing, the other thing is that where is the fuel? If you have fuel but it is on the high sea, and not in the tanks in the depots and petrol stations, then, you have a problem. The issue is not the quantity available offshore, but what is really available in everybody’s tank and petrol stations. So, we are working hard on the logistics to make it easier and quicker to make products get into our depots and stations, and by extension, they get delivered to the petrol stations. So, it is not about the figures or stock available,” he said.

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