Adedapo Adesanya
By Adedapo Adesanya
Amid a biting fuel scarcity that has been ongoing for two weeks, the federal government, through its Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), has finally broken its silence, saying that it has enough stock to last through the yuletide period into next year.
This comes as the regulator also said that there is no planned hike in fuel prices.
Reacting to the concerns around prices and availability of premium motor spirit (PMS), otherwise known as petrol, in an advisory issued in Abuja on Wednesday, the NMDPRA said the federal government has no intention of increasing the price of PMS during this period.
It revealed that the Nigerian National Petroleum Corporation (NNPC) Limited has imported PMS with current stock levels sufficient for 34 days.
In the same vein, the agency assured that it would monitor the supply situation to restore normalcy.
It advised marketers to shun the diversion of the product, the agency urged consumers to desist from panic buying.
The agency said: “This advisory addresses speculations on the price and availability of Premium Motor Spirit (PMS). The authority wishes to inform the general public that the federal government has no intention of increasing the price of PMS during this period.
“The Nigerian National Petroleum Corporation Limited (NNPCL) has imported PMS with current stock levels sufficient for 34 days.
“Consequently, marketers and the general public are advised to avoid panic buying, diversion of products, and hoarding.
“In keeping with the authority’s responsibilities as outlined in the Petroleum Industry Act (PIA), the authority assures the public that it would continue to monitor the supply and distribution of all petroleum products nationwide, especially during this holiday season.”
Despite the assurance from the body, Nigerians are still finding it difficult to get the product, fuelling frustration and anger.
Business Post gathered that only a few retail outlets sold the product in Lagos, and those with the commodity sold for as high as N250 – N300 per litre.
