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By Adewale Sanyaolu and Adanna Nnamani, Abuja
The Nigerian National Petroleum Company Limited (NNPC Ltd) and the Central Bank of Nigeria (CBN) have agreed to domicile a significant portion of NNPC revenues and other banking services with the apex bank.
A statement jointly signed by the Chief Corporate Communications Officer(CCCO) of NNPC Limited and the Acting Director, Corporate Communications Department, CBN, Hakama Sidi Ali, quoted the Group Chief Executive Officer of NNPC Ltd, Mallam Mele Kyari, and the Governor of CBN, Dr Olayemi Cardoso, as agreeing to the strategy at a meeting in Abuja on Thursday.
Both CEOs noted the value created by the decision for all parties, especially in providing the NNPC Ltd with an improved platform for managing its cash holding obligor limits in commercial banks set by the Board of Directors.
‘‘The CBN has provided enhanced digital platforms for all transactions and has established specific limits to manage NNPC Ltd. transactions.
Both parties have also committed to further strengthening the collaboration to ensure seamless operations of the commercial NNPC Limited and noted that NNPC Ltd. continues to have banking transactions with commercial banks as required.
Meanwhile, NNPC Limited has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol.
The company urges Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.
“Motorists nationwide are advised against engaging in panic buying, as there is presently ample availability of PMS across the country,’’.
The assurance from NNPC maynot be unconnected with fuel queues which resurfaced across major parts of Lagos with majority of the retail outlets out of stock.
Findings by Daily Sun across major retail outlets on Tuesday revealed a massive shortage of Premium Motor Spirit(PMS), popularly called petrol.
On the Egbeda- Idimu Road, retail outlets on both sides of the long stretch of the road terminating at Council bus stop were out of supply. This was also the same situation within Abule -Egba and environs, Abbatoir Road in Agege, Akowonjo Road and the popular Lasu-Igando Road.
Most of the filling stations had long queues of vehicles waiting without any hope in sight when products would be available.
Some of the motorists who spoke to Daily Sun in seperate interviews said the develooment has further compounded their woes.
A commercial bus driver who identified himself as Lasisi Abiodun, said he noticed the queues around 6am yesterday but thought it was as a result of the early rush hours by people rushing down to their various work places.
He said by 11am the queues had built further, signalling that there was scarcity of petrol.
He worried that the development was capable of worsening the already troubled economy as transport fares would skyrocket immediately.
More worrisome is the shutdown of operations at most NNPC retail outlet which operates over 900 retail outlets.
In Lagos, most of the NNPC retail outlets were out of supply as at 2pm yesterday.
But, the Chief Corporate Communications Officer (CCCO) Nigerian National Petroleum Company(NNPC) Limited, Mr.Olufemi Soneye,in a WhatsApp response to Daily Sun inquiry, explained that, there are no supply issues, and products remain readily available.
