Stop Panic Buying, We Have Enough Products in Stock NMDPRA Assures Nigerians
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has urged Nigerians to desist from panic buying or hoarding petroleum products, assuring that there is sufficient supply of fuel across the country.
In a statement released on Thursday by the Authority’s Director of Public Affairs, George Ene-Ita, the NMDPRA reaffirmed that the country currently has enough stocks of Premium Motor Spirit (PMS), Automotive Gas Oil (diesel), and Liquefied Petroleum Gas (LPG) to meet national demand.
Ene-Ita emphasized that Nigerians should avoid creating artificial scarcity through panic purchases, which could disrupt the stable distribution chain maintained by oil marketers and depots.
“The Authority wishes to inform the public that there is adequate supply of petroleum products across the nation. We urge citizens not to engage in panic buying or hoarding, as these actions only lead to unnecessary disruptions in supply and artificial price increases,” the statement read.
The regulatory body noted that both local refineries and importation channels remain active and efficient, ensuring a steady flow of products to filling stations nationwide.
The assurance follows growing public speculation about possible fuel scarcity after reports of a temporary rise in demand in some cities.
In the same announcement, NMDPRA clarified that the 15 percent import duty earlier proposed on imported petrol and diesel will no longer be implemented, following a review by the Federal Government.
The suspension of the duty, which had raised public concern over a potential hike in pump prices, is expected to ease pressure on the downstream market and prevent an increase in transportation costs.
Industry watchers have welcomed the reassurance, describing it as a timely step to maintain market stability and public confidence.
However, they also urged the Authority to intensify surveillance on fuel distribution to prevent hoarding and price manipulation by marketers.
The NMDPRA reaffirmed its commitment to monitoring supply and distribution nationwide, vowing to take firm regulatory action against any depot or filling station found engaging in artificial scarcity or price gouging.
With the latest assurance, the agency aims to sustain public calm and ensure uninterrupted access to petroleum products as the year-end festive period approaches, a time when fuel consumption traditionally rises across Nigeria.
