The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Osun has warned petroleum marketers against hoarding and all forms of sharp practices before, during and after the yuletide.
The agency also warned residents in the state against panic buying and storing petroleum products at home.
Mr Kunle Adeyemo, the NMDPRA state coordinator, gave the warning while speaking with newsmen on Wednesday in Osogbo.
Adeyemo said that any marketer caught hoarding fuel or engaging in an illegal pump adjustment risked being sanctioned.
The NMDPRA boss also said that the agency’s officials would continue to go around the state on monitoring and surveillance to sanction any marketer found culpable.
According to him, NMDPRA in the state would intensify its monitoring and surveillance of outlets in line with its regulatory mandate to ensure compliance with quality, quantity and safety of operations.
Adeyemo also warned motorists to shun panic buying and storing of petroleum products in or around residential areas to avoid fire disasters.
The NMDPRA coordinator, who noted that the Federal Government had made available sufficient petroleum products that would last throughout the festive season and beyond, said there was no need for panic-buying or hoarding.
“Petroleum products are available in all the depots around the country.
“Marketers should not engage in diversion, under-dispensing, hoarding, adulteration and unsafe acts in petroleum retail outlets.
“Any marketer or operator caught engaging in sharp practices will be sanctioned accordingly.
SOURCE: P.M NEWS
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