Ayodele Olalere
The Nigerian Midstream and Downstream Regulatory Authority (NMDRA), has urged Nigerians not to engage in panic buying of petroleum products following queues that have surfaced at filling stations across the country.
Fuel has suddenly become scarce at filling stations in different parts of the country following the announcement on Monday by President Bola Ahmed Tinubu removing fuel subsidy.
In a statement on Tuesday signed by the General Manager, Corporate Communication, NMDRA, Kimchi Apollo, the organisation stated that the removal was part of moves to deregulate the downstream sector and in line with The Petroleum Industry Act(2021).
It assured Nigerians that there is enough supply of petroleum products to meet demand of Nigerians as necessary steps have been taken ‘to ensure distribution channels remain uninterrupted and fuel is readily available to Nigerians. ‘
It warned Nigerians to avoid stockpiling fuel as it’s dangerous, adding the removal is a step towards building a prosperous country.