The Department of Petroleum Resources (DPR) says it will not hesitate to apply appropriate sanctions on marketers engaged in hoarding of petroleum products in their outlets.
Mr Sarki Auwalu, Director, DPR, gave the warning in a statement issued on Tuesday in Lagos.
Auwalu said the warning was necessitated by the emergence of queues in retail outlets in some states of the federation.
According to him, from available records, there is product sufficiency in the country and there is no need for hoarding by any marketer.
Auwalu said: “The DPR will not hesitate to apply appropriate sanctions on any outlet found wanting in this regard.
“The regulatory agency has set up a special taskforce to intensify surveillance and monitoring of all retail outlets and depots nationwide to check the anomaly.”
He, therefore, advised the general public against panic buying.
Auwalu assured them that the DPR would continue to provide its regulatory focus of quality, quantity, integrity and safety for the for effective operations of the downstream sector. (NAN)