The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Osun has warned petroleum marketers against hoarding the products.

The agency also warned residents against panic buying, hoarding, and storing petroleum products at home.

NMDPRA coordinator in Osun, Adekunle Adeyemo, gave the warning while speaking with journalists on Monday in Osogbo.

Mr Adeyemo said that the agency’s surveillance team would ensure no filling stations hoard the product. He said that any marketers caught hoarding the fuel or engaging in any form of sharp practices would be dealt with in accordance with the dictates of the law.

Mr Adeyemo promised that the agency would intensify its monitoring and surveillance of outlets in line with its regulatory mandate to ensure compliance with quality, quantity and safety of operations.

According to him, the government is doing everything possible to ensure adequate product availability, and it will be unfair for independent marketers who have the product in stock to hoard it.

“We want to appeal to independent marketers who have petroleum products in stock to stop hoarding. It will be inhuman for those who have the product to be hoarding and inflating the pump price. The surveillance team of the agency is already out to ensure that those who have the product are dispensing it to motorists at reasonable price.

“However, any filling station caught hoarding the product with the view of inflicting pains on the masses will not be spared. Yes, there might be a little challenge in the supply process, but relevant government agencies are doing everything possible to ensure that the situation is normalise.

“We will not fold our hands while some few individuals will inflicting undue pain on the residents of the state by hoarding the products,’’ he said.

Mr Adeyemo appealed to petroleum marketers to always adhere strictly to standard safety practices in their filling stations.

He warned that any marketer who violates the standard procedure will be dealt with according to the law.

Mr Adeyemo also appealed to consumers to report sharp practices, such as under-dispensing, to the agency for appropriate action.

The NMDPRA boss also warned against storing petroleum products at homes, adding that such can cause a fire outbreak. He said that people needed to be very careful about handling petroleum products.

(NAN)