NNPC and oil marketers had 488 million liters of land-based fuel stock as of November 22

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Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), released on November 23, show that the Nigerian National Petroleum Company (NNPC) and oil marketers had 488,133,866 liters of land-based fuel stock as of November 22, 2022.

Breakdown: In the data report cited by Nairametrics, the NNPC, Major Oil Marketers Association of Nigeria (MOMAN), and Depot and Petroleum Products Marketers Association (DAPPMA) had land-based fuel stock in various areas as follows:

In Lagos, the NNPC had 43,133,188 liters of closing stock, MOMAN had 17,610,168 liters and DAPPMA had 122,263,332 closing stock, which was a total of 183,006,688 liters for the Lagos area.

In Port Harcourt, the NNPC had 8,452,217 liters of closing stock, MOMAN had 274,993 and DAPPMA had 62,632,622 liters of closing stock, which was a total of 71,359,832 liters for the Port Harcourt area.

In Calabar, the NNPC had 10,913,280 liters of closing stock, MOMAN had nil and DAPPMA had 87,691,782 liters of closing stock, which was a total of 98,605,062 liters for the Calabar area.

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In Warri, the NNPC had 40,990,082 liters of closing stock, MOMAN had nil and DAPPMA had 73,134,842 liters of closing stock, which was a total of 114,124,924 liters for the Warri area.

In Kaduna, the NNPC had 21,037,360 liters of closing stock, MOMAN had nil, and DAPPMA had nil, which was a total of 21,037,360 liters for the Kaduna area.

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In total for all the areas, NNPC had 124,526,127 liters, MOMAN had 17,885,161 liters and DAPPMA had 345,722,578 liters.

The grand total of land-based stock of fuel in Nigeria as of November 22, 2022 was 488,133,866 liters.

The data above gives credence to the claim by the deputy national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Zarama Mustapha, that the NNPC has inadequate storage systems to deposit imported fuel for public consumption. The data shows that the NNPC had only 124 million liters of stock, while DAPPMA which represents depot owners, had 345 million liters.

It is instructive to note also that Nigeria needs storage facilities for its premium motor spirit (PMS). As the government plans to revive the Kaduna, Port Harcourt, and Warri refineries, adequate plans must be made to expand the country’s fuel storage capacity to cater to Nigeria’s growing population and rising energy demand.

In case you missed it: Nairametrics reported that the management of MOMAN said it was conducting a depot-to-depot check-in and check-out to enhance efficiency, and it was also having logistic supply meetings with the NNPC, so as to tackle the current fuel scarcity in the country.

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