TheCable

The Nigerian National Petroleum Company (NNPC) Limited says the ongoing shortfall in supply of petroleum products and queues for the products will be cleared out by May 1.

Femi Soneye, NNPC’s spokesperson, spoke to NAN on Tuesday in Lagos.

Soneye said the company currently has more than 1.5 billion litres of product available, enough to last for at least 30 days.

However, he said some individuals might be exploiting the situation to maximise profit.

“Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved,” he said.

“However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations.

“Some folks are taking advantage of this situation to maximize profits.

“Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain.

“The lines will be cleared out between today and tomorrow.”

Petrol queues resurfaced in filling stations amid a scarcity of the commodity, leading to an increase in transport costs.

On April 25, the NNPC attributed the situation to logistics issues, assuring Nigerians that “they have been resolved”.

However, on April 29, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said it does not have access to petroleum products.