The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has urged Nigerians to remain calm and avoid panic buying of petroleum products, assuring that there is adequate supply across the country during this peak demand period.
In a statement dated November 12, signed by George Ene-Ita, Director of the Public Affairs Department, and shared on its official X handle on Thursday, the authority said that the national fuel stock remains within the acceptable sufficiency threshold.
According to the NMDPRA, there is currently 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 importation. The agency said these efforts ensure timely replenishment of stocks at storage depots and retail outlets nationwide.
The authority cautioned against hoarding and arbitrary price hikes, describing such practices as unnecessary and unjustified given the available supply levels.
It also clarified that “the implementation of the 15% ad-valorem import duty on imported PMS and diesel is no longer in view,” a policy reversal expected to ease market pressure and stabilize pump prices.
Reaffirming its oversight role, the NMDPRA assured that it will continue to monitor fuel distribution and supply chains closely to prevent any disruption, particularly during this high-demand period.
“The Authority remains committed to ensuring energy security and appreciates the cooperation of all industry stakeholders,” the statement concluded.
Meanwhile, in related industry developments, Nigeria’s average crude oil production rose slightly to 1.401 million barrels per day in October 2025, according to the Organisation of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report. The figure represents a marginal increase from 1.39 million barrels per day in September, though still below Nigeria’s OPEC production quota of 1.5 million barrels per day.
This marks the third consecutive month that the country has failed to meet its assigned target, the last time being in July 2025.
