The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured Nigerians that the country has sufficient petroleum products to meet demand during the current peak consumption period.
The regulator stated that national stock levels remain above the required sufficiency threshold across key products, including petrol, diesel, and liquefied petroleum gas.
In a statement issued by the Director of Public Affairs, George Ene-Ita, the Authority confirmed that product availability is supported by a combination of domestic refinery output and importation, ensuring continued replenishment of depot and retail station inventories nationwide.
NMDPRA advised the public to avoid panic buying, hoarding, or any price escalation not aligned with prevailing market fundamentals.
The regulator emphasised that such actions could create artificial scarcity and undermine ongoing efforts to maintain stable nationwide supply.
The Authority also clarified that the implementation of the 15 percent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) is no longer under consideration, removing a key cost concern previously raised by market participants.
According to the statement, NMDPRA will continue to track the supply and distribution network closely and deploy necessary regulatory interventions to prevent disruptions, particularly during periods of elevated demand.
The regulator acknowledged the collaboration of stakeholders across the midstream and downstream value chain and reaffirmed its commitment to safeguarding energy security in the country.