In Osun State, petroleum marketers have received a caution from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, regarding the hoarding of fuel products.
Residents of the state have also been advised against engaging in panic purchases, hoarding, or storing petroleum products at home.
The State Coordinator of NMDPRA in Osogbo, Adekunle Adeyemo, issued this warning during an interaction with journalists on Monday.
Adeyemo emphasized that the agency’s surveillance team is committed to ensuring that no filling stations hoard petroleum products.
He stated that strict measures will be taken in accordance with the law against any marketer found hoarding fuel or involved in any form of dishonest practices.
Furthermore, Adeyemo reassured that the agency will enhance its monitoring and surveillance activities at outlets to enforce compliance with standards related to quality, quantity, and operational safety.
He also mentioned the government’s efforts to maintain a sufficient supply of fuel and highlighted the unfairness of independent marketers hoarding products that are in stock.
Addressing the independent marketers directly, Adeyemo urged them to desist from hoarding their petroleum products and refrain from inflating prices at the pump.
He stated, “The agency’s surveillance team is actively ensuring that those with available products sell them to motorists at reasonable prices.”