The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has cautioned petroleum marketers against hoarding fuel and engaging in unethical practices during the yuletide season.
The warning was issued in Osogbo by the NMDPRA State Coordinator, Kunle Adeyemo, during a press briefing on Wednesday. He stressed that any marketer found hoarding fuel or tampering with pump settings would face severe sanctions, as reported by the News Agency of Nigeria.
Adeyemo announced that the agency would intensify monitoring and surveillance activities across the state to ensure compliance with regulatory standards. These efforts will include checks on the quality, quantity, and safety of petroleum products sold at retail outlets. He assured the public that petroleum products were readily available at depots nationwide, discouraging marketers from engaging in diversion, under-dispensing, or adulteration of fuel.
The NMDPRA coordinator also advised motorists against panic buying or storing fuel in residential areas, emphasizing the dangers of fire outbreaks associated with such actions. “Members of the public should desist from storing petroleum products at homes because such actions can cause fire disasters,” he warned. Adeyemo reassured Nigerians that the Federal Government had ensured a sufficient supply of fuel to last throughout the festive season and beyond, making panic buying unnecessary.
Fuel hoarding and artificial scarcity remain persistent issues in Nigeria’s petroleum sector, often resulting in long queues and market instability. The NMDPRA and other regulatory bodies, including the Department of Petroleum Resources (DPR), have expressed concerns over these practices. In an earlier warning, the DPR noted that depot owners and marketers withholding supplies were creating artificial scarcity, leading to economic disruptions and inconvenience for consumers.
To address these challenges, the NMDPRA has pledged to enforce stricter monitoring and penalties for violators. The agency urged Nigerians to patronize only certified and approved gas stations to ensure safety and compliance. These proactive measures aim to maintain a steady fuel supply, stabilize the market, and prevent disruptions during the festive season and beyond.