‘No Panic Buying’ – NMDPRA Warns Nigerians Over Fuel Scarcity

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued an advisory to the public, urging individuals to refrain from panic buying.

The agency reassured citizens that there is currently an adequate supply of petroleum products available in the country to meet ongoing demand.

In a statement released on Thursday, George Ene-Ita, the Director of the Public Affairs Department at NMDPRA, emphasized the importance of avoiding the hoarding of petroleum products, especially as the country approaches festive periods that typically see increased consumption.

“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period.

“The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.

“The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.

“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement read.