By Obinna Uballa
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has urged Nigerians to remain calm and avoid panic buying of petrol and diesel, assuring that there is sufficient supply of petroleum products across the country despite heightened demand.
In a statement dated November 12, signed by the Director of Public Affairs, George Ene-Ita, and shared via the agency’s official X handle, the NMDPRA said national stock levels remain “within the acceptable sufficiency threshold,” adding that supply is being replenished regularly from both local refineries and import channels.
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc.) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period,” the statement read.
The regulator also cautioned marketers against hoarding or arbitrary price increases, stressing that such actions are unnecessary given the current supply situation.
In a major clarification likely to calm the market, the NMDPRA disclosed that the implementation of the proposed 15% ad-valorem import duty on imported petrol and diesel is no longer in view, a move expected to stabilise pump prices nationwide.
Reaffirming its oversight commitment, the agency said it would “continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruptions in distribution, especially during this peak demand period.”
The authority also commended downstream operators for their cooperation and reiterated its commitment to guaranteeing energy security.
Meanwhile, The New Diplomat had reported Nigeria’s crude oil production rose slightly to 1.401 million barrels per day in October 2025, up from 1.39 million bpd in September, according to the Organisation of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report released on Wednesday.
The figure, however, remains below Nigeria’s OPEC quota of 1.5 million bpd, marking the third consecutive month the country has failed to meet its assigned target.
