From Uche Usim, Abuja
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDRA) has warned oil marketers against arbitrary increase in the price of petrol in order to drive a selfish agenda that justifies pump price hike.
The authority, which gave the warning Friday evening in a statement, said it independently discovered Petrol was being sold at loading depots of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) members above the official price which is caused by the erroneous insinuation of imminent increase in the price of the product.
NMDRA in the statement signed by its Chief Executive Officer, Farouk Ahmed, assured the general public that the price of petrol has not been changed and that the Federal Government has no intention of upward adjustment of the price at the moment.
“The Authority wishes to inform the general Public to note that the country has adequate stock of petroleum and the NNPC has further assured of sufficient supply of product.
“The CEO therefore cautions marketers against hoarding and engaging in unwholesome practices that are inimical to the smooth supply of Petroleum.
“Ahmed has directed all operational offices of the Authority across the nation to ensure that all loading depots and retail outlets are dispensing petroleum at only the approved price.
“He also urged motorists to desist from panic buying and report any erring marketer to the nearest office of the Authority”, the statement noted.