The Petroleum Products Pricing Regulatory Agency (PPPRA) has reacted to what it described as the sudden re-appearance of queues at some filling stations in the country.
In a statement on Sunday by its Executive Secretary, Abdulkadir Saidu, the PPPRA attributed the queues to speculation of a shortfall in the supply of Premium Motor Spirit (PMS), popularly known as petrol.
It noted that has continued to monitor products supply in the petroleum sector, in line with best practices.
The agency explained that this was in line with its mandate to regulate petroleum products supply and distribution, as well as establish an industry data bank.
It disclosed that the average daily supply of petrol for the year 2017, 2018 and 2019 were about 46 million, 54 million and 56 million litres respectively.
According to PPPRA, the figures indicate an improved level of supply in 2019.
Based on the available data, it affirmed that there was an adequate supply of PMS with more than 21 days sufficiency.
“PPPRA, therefore, urges fuel consumers across the country to desist from panic buying as the agency would continue to monitor the supply situation and take every step required to ensure that there is no disruption in the supply chain,” the statement said.
The agency gave assurance that there was adequate product supply in the system to meet the demands of consumers.