The Department of Petroleum Resources (DPR) at the weekend assured that there was sufficient level of petroleum products that will sustain the country for months and even beyond the last quarter of the year.
It dismissed rumours of impending scarcity of products particularly Premium Motor Spirit (PMS), and cautioned marketers against selling above the approved pump price of N145 per litre.
Its Head of Operation, Lagos Zonal Office, Sholabi Olanrewaju, who gave the assurance, advised residents against panic buying, saying the Federal Government has ensured availability of products, adequately supply and prompt distribution across states.
Olanrewaju said: “There is sufficient level of petroleum products as at today’s stock that could take the nation for months.
“So, I will advise members of the public there is no need for panic buying of petroleum products in anticipation of scarcity.
“Any petroleum marketer found to be selling PMS above the stipulated pump price of N145 per litre or causing a hitch in the supply chain will be severely dealt with in accordance with the law.”