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Yuletide: Nigerians Warned Against Panic Buying, Hoarding of Petroleum Products

The Department of Petroleum Resources, DPR, has cautioned Nigerians against panic buying and hoarding of petroleum products during the Yuletide.

The DPR Operations Controller, Warri Zonal office, Antai Asuquo, gave the warning on Wednesday in an interview with the News Agency of Nigeria in Warri.

Mr Asuquo said that the Federal Government had made available sufficient petroleum products that would last throughout the festive season and beyond, adding that there was no need for panic-buying or hoarding.

“We should be very careful how we handle petroleum products in this period of harmattan.

“The products are available; the government has made sufficient provision to cover this festive period till 2021.

“The prices will continue to fluctuate, today it may be high, and tomorrow it can come down.

“So panic buying and hoarding does not make sense, do not buy and store, thinking that tomorrow the price may go up, the price will really come down,’’ he said.

Mr Asuquo also appealed to consumers to report cases of under-dispensing and other sharp practices to the regulatory agency for appropriate action.

“Consumers should be vigilant, they should report any filling station that under dispenses petrol to us, we will seal it immediately,” Mr Asuquo said.

He also advised petroleum marketers to operate within the rules and regulations of the DPR, warning that any defaulter would be sanctioned accordingly.

Mr Asuquo said that the regulatory agency would continue to carry out its routine surveillance to ensure that operators in the downstream sector conduct their businesses in line with the rules and regulations.

He, however, warned the marketers against under-dispensing and other sharp practices in the petroleum business.


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