Yuletide: NMDPRA warns against panic-buying, fuel hoarding

File photo: Fuel pump

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority has warned residents of Osun State against panic buying and storing petrol at home as the yuletide approaches.

The agency also cautioned petroleum marketers against hoarding, diversion and other sharp practices during the festive period.

The NMDPRA Coordinator in Osun, Kunle Adeyemo, gave the warning on Thursday while speaking with journalists in Osogbo.

He assured residents that the state had sufficient supply of petroleum products to meet demand before, during and after Christmas.

Adeyemo said storing petrol at home remained a major fire hazard, stressing that such actions could lead to loss of lives and property.

He added that the authority had intensified monitoring and surveillance of filling stations to ensure compliance with safety, quality and quantity standards.

According to him, any marketer caught hoarding products, adjusting pumps or engaging in adulteration would be sanctioned.

“Petroleum products are available in all depots around the country. Marketers should not engage in diversion, under dispensing, hoarding, adulteration or unsafe acts at retail outlets.

“Any marketer or operator caught engaging in sharp practices will be sanctioned accordingly,” he said.

NAN

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