The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Osun has warned petroleum marketers against hoarding and any form of sharp practices before, during, and after the yuletide.

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

The NMDPRA state coordinator, Kunle Adeyemo, gave the warning while speaking with journalists on Thursday in Osogbo, the Osun State capital.

Mr Adeyemo said there is an adequate supply of petroleum products in the state to meet residents’ demand before, during, and after the festive period.

The NMDPRA boss noted that storing petroleum products at home could lead to fire outbreaks, resulting in loss of life and property.

He said the agency had put measures in place to ensure the smooth supply and distribution of petroleum products across the state.

Mr Adeyemo said any marketer caught hoarding fuel or engaging in illegal pump adjustments would be sanctioned.

The NMDPRA boss also said the agency’s officials would continue to go around the state for monitoring and surveillance, with a view to sanctioning any marketer found culpable.

According to him, NMDPRA will intensify monitoring and surveillance of outlets in line with its regulatory mandate to ensure compliance with the quality, quantity, and safety of operations.

The NMDPRA coordinator, who noted that the federal government had made sufficient petroleum products available to last throughout the festive season and beyond, said there was no need for panic buying or hoarding.

“Petroleum products are available in all depots around the country. Marketers should not engage in diversion, under-dispensing, hoarding, adulteration, or unsafe acts at retail outlets.

“Any marketer or operator caught engaging in sharp practices will be sanctioned accordingly,” he said.

Mr Adeyemo also appealed to residents to patronise only approved, certified gas facilities in the state.

(NAN)