FG warns marketers against hoarding of petrol

The federal government has cautioned petrol marketers to stop hoarding premium motor spirit popularly known as petrol.

A statement from the Nigerian midstream and downstream petroleum regulatory authority urges the public to avoid panic buying.

The statement warns that marketers found hoarding petroleum products will be sanctioned appropriately.

It says there is no plan to increase the price of the commodity.

The statement adds that the Nigerian National Petroleum Company limited has continued to import petrol with current stock levels sufficient for 34 days.

It promises to continue to monitor the supply and distribution of all petroleum products nationwide especially during the yuletide season.