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Business News of Thursday, 4 March 2021

Source: punchng.com

Rivers has fuel sufficiency - DPR

Rivers State map Rivers State map

The Department of Petroleum Resources said on Wednesday that there was no need for panic buying of petrol in Rivers State, saying about 180 million litres of the product was available in various depots there.

DPR Controller, Port Harcourt Zonal Office, Bassey Nkanga said this while fielding questions from journalists at his office in Port Harcourt on Wednesday.

Nkanga further said about 147 trucks of petroleum products were distributed from Port Harcourt to various locations in the South-South region and beyond.

He said, “In Rivers State, we do not have problems. As we speak, we are discharging 32 metric tonnes of PMS at Okrika Jetty.

“Yesterday, (Tuesday) we had about 147 trucks of petroleum products go out from this axis to various locations especially, in the South-South region.

“Out of these, what came to Rivers State was 54 trucks, meeting our sufficiency level. The sufficiency level is 40 trucks daily, but yesterday, we distributed 60 trucks. The previous day, we also had sufficient products.

He said, “So, there is no reason for panic buying. Whatever is released is being monitored by us. If you go out now, you will see our team. We have three teams going out to different areas daily to monitor.

“What is being monitored is what we call the QQIS. That is Quality, Quantity, Integrity and Safety. We want to be sure that what is given out meets the value price.”

Nkanga added, “I will advise residents here not to panic buy. Today, so many filling stations are selling. Those that are not selling may be waiting at the depot to collect fuel and take to their stations. There is no shortage.

“As we speak with you, minus the 32 metric tons that are being discharged, we have about 180 million litres of PMS in various depots in Rivers.

“Other states in the region also take from here, but we must ensure that priority is always given to Rivers State. So there is no reason for panic buying.”

He attributed most of the problems associated with scarcity to speculations.