Amid growing public concern over possible fuel shortages, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reassured citizens of adequate petroleum product availability nationwide. The agency advised consumers to remain calm and avoid panic buying, noting that current stock levels remain well within the national sufficiency threshold, even during the ongoing peak demand period.
In a statement dated November 12 and shared on its official X handle on Thursday, the authority, through its Director of Public Affairs, George Ene-Ita, stated that domestic supplies of petroleum products — including Automotive Gas Oil (AGO), Premium Motor Spirit (PMS), and Liquefied Petroleum Gas (LPG) — are being sustained through both local refining and importation. These measures, the statement noted, are designed to ensure uninterrupted replenishment of stocks at depots and retail outlets across the country.
The regulator cautioned marketers against hoarding or introducing arbitrary price increases, describing such actions as unnecessary and counterproductive given the current stability in supply.
In a related development, the NMDPRA confirmed that the planned implementation of a 15% ad-valorem import duty on imported PMS and diesel has been suspended. The decision, initially approved by President Bola Tinubu, is expected to ease market pressure and promote price stability in the downstream sector.
Reiterating its commitment to maintaining energy security, the authority pledged to sustain close surveillance of the supply chain and to deploy regulatory interventions where necessary to prevent disruptions in product distribution. It also commended industry stakeholders for their cooperation and adherence to regulatory directives.
Meanwhile, new data from the Organisation of Petroleum Exporting Countries (OPEC) revealed that Nigeria’s crude oil output averaged 1.401 million barrels per day in October 2025 — a marginal rise from September’s 1.39 million barrels per day. Despite the improvement, production remains below OPEC’s quota of 1.5 million barrels per day, marking the third consecutive month of underperformance.