NNPC cautions consumers against panic buying

The Nigerian National Petroleum Corporation (NNPC) on Monday in Abuja advised consumers of petroleum products not to engage in panic buying following a fire that engulfed a tank farm at the Calabar Free Trade Zone (CFTZ) in Cross River on Saturday.

In a statement by NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, the corporation assured that the ‘unfortunate’ fire at a private tank farm had not affected its operations.

The statement also assured that the corporation’s stock holding was robust.

”NNPC has over 40 day-sufficiency for petrol, and adequate volumes of diesel and kerosene to meet consumers’ demand nationwide.

”Therefore it is pointless to engage in panic buying,” Ughamadu said.

It said the NNPC Group Managing Director, Dr Maikanti Baru, had received briefs on the incident and had expressed regrets over the unfortunate loss of life in the inferno.

”Dr Baru consoled the families of those who lost their loved ones in the incident.

”He advised communities in areas of Oil and Gas operations to always exercise caution and be vigilant at all times.”