NMDPRA Cautions Against Panic Buying, Assures Nigerians of Sufficient Fuel Availability

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has appealed to Nigerians to stay calm and avoid panic buying of petroleum products, assuring that there is sufficient supply across the country.

In a statement dated November 12 and signed by the Director of Public Affairs Department, George Ene-Ita, the agency noted that petroleum products are available “within the acceptable national sufficiency threshold during this peak demand period.”

According to the NMDPRA, there is a “robust domestic supply of petroleum products (AGO, PMS, LPG, etc.) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail outlets.”

The authority cautioned against hoarding or any artificial price increase, stressing that such actions are unwarranted given the current supply situation.

It further clarified that the proposed 15% ad-valorem import duty on imported Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) is no longer being implemented — a decision expected to ease market pressure and help stabilise pump prices.

Reiterating its oversight responsibility, the NMDPRA assured that it would continue to monitor supply and distribution closely to prevent disruptions, especially during this high-demand period.

The statement also commended industry stakeholders for their continued cooperation and reaffirmed the agency’s commitment to maintaining energy security across the nation.

Meanwhile, Nigeria’s crude oil output rose slightly to 1.401 million barrels per day in October 2025, according to data from the Organisation of Petroleum Exporting Countries (OPEC). The figure represents a small increase from 1.39 million barrels per day in September but remains below the country’s OPEC quota of about 1.5 million barrels per day. This marks the third consecutive month that production has stayed under the assigned target.