Juliet Buna
The Nigerian Midstream and Downstream Petroleum Regulatory Authority on Tuesday assured of an adequate supply of PMS to meet the demand of consumers.
This is coming after President Bola Tinubu on Monday declared the removal of fuel subsidy.
The NMDPRA in a statement signed by its General Manager of corporate communications Kimchi Apollo said necessary steps have been taken to ensure distribution channels remain uninterrupted and fuel is readily available at all filling stations across the country.
The statement reads in part “Contrary to speculations and concerns, the announcement is in line with the Petroleum Industry Act (2021) which provides for total deregulation of the petroleum downstream sector to drive investment and growth.
“We are working closely with NNPC Limited and other key stakeholders to guarantee a smooth transition, avoid any disruptions in supply as well as ensure that consumers are not short-changed in any form.
“The Authority assures that there is ample supply of PMS to meet demand as we have taken necessary steps to ensure distribution channels remain uninterrupted and fuel is readily available at all filling stations across the country.
“We, therefore, call on Nigerians to remain calm and resist the urge to stockpile as it poses a significant safety hazard.
“The NMDPRA reassures all Nigerians that the removal of subsidy on PMS is a step towards building a more sustainable and prosperous future for our nation. We will continue to monitor activities and implement necessary measures to enhance transparency and accountability in the petroleum downstream sector.
