Nigeria’s fuel regulator has moved to calm fears of a potential shortage, assuring the public that there is more than enough petroleum supply in the country.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issued the statement on its social media channels on Thursday, in a post seen by SPEAR NEWS.
The authority made the announcement on Thursday in statement that was signed by George Ene-Ita, the Director of the Public Affairs Department for the NMDPRA.
The group stated that there is a robust supply of products like petrol (PMS), diesel (AGO), and cooking gas (LPG), which comes from both local refineries and imports. This, it said, will ensure stocks are replenished at depots and filling stations.
In its announcement, the NMDPRA directly advised the public against certain actions. “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.
In a significant clarification, the regulator also confirmed that a planned increase to fuel costs is no longer going ahead. “It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view,” it stated.
The NMDPRA pledged to keep a close watch on the situation to prevent any disruptions, especially during this period of high demand.
The statement concluded by reinforcing its commitment, saying, “the public is hereby assured of NMDPRA’s commitment to guarantee energy security.”
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