The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) warns petroleum marketers against hoarding fuel and engaging in unethical practices during the festive season and beyond.
This warning is issued by the NMDPRA State Coordinator, Kunle Adeyemo, during a press briefing in Osogbo. Adeyemo emphasizes that marketers found tampering with pump settings, hoarding fuel, or engaging in other sharp practices will face strict penalties.
He assures the public that there is sufficient petroleum supply across depots nationwide, making hoarding and panic buying unnecessary. “Petroleum products are available in all depots around the country. Marketers must refrain from diversion, under-dispensing, hoarding, adulteration, and unsafe practices at retail outlets,” Adeyemo states.
To ensure compliance, the agency intensifies its monitoring and surveillance at petroleum outlets across the state. Adeyemo advises motorists to avoid panic buying and warns against storing fuel in residential areas due to the risk of fire outbreaks.
The NMDPRA also urges consumers to patronize only certified and approved gas facilities to ensure safety and adherence to regulatory standards.
Fuel hoarding and artificial scarcity continue to disrupt Nigeria’s petroleum supply chain, creating panic and economic strain. The agency highlights the need for transparency and fair distribution while pledging to penalize violators to stabilize the market.
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