The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured Nigerians that the country currently maintains adequate national stock levels of major petroleum products, including petrol, diesel, and cooking gas, amid the peak demand season.

In a statement, the Authority noted that domestic fuel supply remains stable and is being sustained through a combination of locally refined products and strategic importation to ensure continuous replenishment across depots and retail stations nationwide.

The NMDPRA cautioned against panic buying, product hoarding, and arbitrary price increases, describing such actions as unnecessary and capable of disrupting market stability.

It also clarified that the earlier proposed 15 percent ad valorem import duty on petrol and diesel is no longer under consideration.

“The Authority will continue to monitor market conditions closely and deploy all necessary regulatory measures to maintain smooth nationwide distribution throughout the season,” the statement read.

The NMDPRA further commended operators in the midstream and downstream sectors for their cooperation and reaffirmed its commitment to safeguarding Nigeria’s energy security.