The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured Nigerians of adequate petroleum supply nationwide and urged the public to desist from panic buying or hoarding products.
In a statement issued on Thursday, the Director of Public Affairs, George Ene-Ita, said the country currently has sufficient petroleum products — including petrol (PMS), diesel (AGO), and liquefied petroleum gas (LPG) — to meet market demand, sourced from both local refineries and importation.
Ene-Ita noted that the Authority had taken proactive steps to ensure steady replenishment of stocks at storage depots and retail outlets across the country as the festive season approaches.
He cautioned marketers against hoarding or arbitrary price hikes, emphasizing that such actions are unnecessary and could disrupt supply stability.
“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 statement read.
It added that NMDPRA would continue to closely monitor the supply and distribution network and take appropriate regulatory measures to sustain availability during the peak demand period.
While commending stakeholders in the midstream and downstream sectors for their cooperation, the agency reaffirmed its commitment to maintaining energy security and ensuring uninterrupted fuel distribution across Nigeria.
