NMDPRA REASSURES PUBLIC OF ADEQUATE FUEL SUPPLY, URGES AGAINST PANIC BUYING, SAYS 15% AD VALOREM IMPORT DUTY NO LONGER UNDER CONSIDERATION
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has assured Nigerians that the country currently maintains adequate national stock levels of all major petroleum products, including petrol, diesel and cooking gas, during this peak demand period.
According to the regulator, domestic supply remains stable and is being sustained through a mix of locally refined products and strategic importation to ensure continuous replenishment across depots and retail stations nationwide.
The NMDPRA cautioned against hoarding, panic buying, and non-market-reflective price increases, noting that such actions are unnecessary and disruptive. It further clarified that the earlier proposed 15 percent ad-valorem import duty on petrol and diesel is no longer under consideration.
The Authority stated that it will continue to monitor market conditions closely and deploy all regulatory measures required to maintain smooth nationwide distribution throughout the season.
NMDPRA also commended operators across the midstream and downstream sectors for their cooperation, reaffirming its commitment to safeguarding Nigeria’s energy security.
0 Comments