The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday issued a statement assuring the public of sufficient petroleum supply across the country amid rising demand concerns.
Signed by George Ene-Ita, Director of the Public Affairs Department, the statement emphasizes that there is a robust domestic supply of petroleum products, including Automotive Gas Oil (AGO), Premium Motor Spirit (PMS), and Liquefied Petroleum Gas (LPG), sourced from both local refineries and imports.
The authority has confirmed that stocks at storage depots and retail stations are being timely replenished, maintaining the country’s acceptable national sufficiency threshold.
NMDPRA strongly advises the public against panic buying, hoarding, or escalating prices beyond market-reflective levels, which could disrupt the supply chain.
A notable development highlighted in the statement is the suspension of the previously planned 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel, originally set to take effect on November 21, 2025.
This decision aims to stabilize the market and support uninterrupted supply during this critical period.
The NMDPRA has pledged to closely monitor the supply situation and implement necessary regulatory measures to prevent disruptions.
The authority also acknowledged the efforts of stakeholders in the midstream and downstream value chain, reaffirming its commitment to ensuring energy security for the nation.
The statement reinforces the “Renewed Hope Agenda” of President Bola Tinubu’s administration, underscoring its commitment to sustainable development and economic stability within Nigeria’s energy sector.
