As fuel scarcity biting harder across the nation, the Federal Government has alleged that the marketers are behind the scarcity.
The Federal Government, therefore, cautioned petrol marketers to stop hoarding Premium Motor Spirit (PMS) popularly known as petrol.
This was contained in a statement through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), reiterating that there is no plan to increase the price of the indispensable commodity.
According to the statement, “the authority wishes to inform the public that the Federal Government has no intention of increasing the price of PMS during this period,” the statement read.
“The Nigerian National Petroleum Company Limited (NNPC Ltd) has continued to import PMS with current stock levels sufficient for 34 days.
“Consequently, marketers are strongly advised to avoid hoarding petroleum products, while the general public is advised to avoid panic buying. Marketers found hoarding petroleum products will be sanctioned appropriately.”
The authority assures the public that it would continue to monitor the supply and distribution of all petroleum products nationwide especially during the Yuletide season.
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