The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Osun has cautioned petroleum marketers in the state against hoarding of petroleum products.
In similar vein, they also warned residents against panic buying, hoarding and storing of petroleum products at home.
This was disclosed by the State Coordinator of NMDPRA, Mr Adekunle Adeyemo in Osogbo on Monday.
According to him, the surveillance team of the agency would be all out to ensure that no filling stations hoard the product.
He added that any petroleum marketer caught hoarding fuel or engaging in any form of sharp practices would be dealt with in accordance with the law.
The State Coordinator government is doing everything possible to ensure adequate availability of the product, adding that the agency is monitoring the situation in line with its regulatory mandate to ensure compliance with quality, quantity and safety.
“We want to appeal to independent marketers who have petroleum products in stock to stop hoarding.
“It will be inhuman for those who have the product to be hoarding and inflating the pump price.
“The surveillance team of the agency is already out to ensure that those who have the product are dispensing it to motorists at reasonable price.
“However, any filling station caught hoarding the product with the view of inflicting pains on the masses will not be spared.
“Yes, there might be a little challenge in the supply process, but relevant government agencies are doing everything possible to ensure that the situation is normalise.
“We will not fold our hands while some few individuals will inflicting undue pain on the residents of the state by hoarding the products,’’ he said.
Adeyemo also appealed to petroleum marketers to always adhere strictly to standard safety procedures in their respective stations.
The NMDPRA boss, while appealing to consumers to report sharp practices to the agency, cautioned them against storing petroleum products at home.
“Storing of petroleum product at home can result in a fire outbreak, which can lead to the destruction of lives and property.
“We have to be wise, there’s no reason for panic buying or hoarding of the product because government is doing everything possible towards adequate supply of the product,’’ he said.
saharandaily