Nigerian Petroleum Authority Urges Calm Amid Sufficient Fuel Supply; Crude Oil Production Slightly Rises
Nigerian Petroleum Authority Urges Calm Amid Sufficient Fuel Supply; Crude Oil Production Slightly Rises
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has called on Nigerians to stay calm and avoid panic buying of petroleum products. The agency assured the public that there is sufficient supply of petroleum products in the country, meeting the national demand during this peak period.
In a statement issued on November 12 and shared via its X platform on Thursday, the authority, signed by Director of Public Affairs George Ene-Ita, emphasized that Nigeria has a “robust domestic supply of petroleum products (AGO, PMS, LPG, etc.)” sourced from both local refineries and imports. This ensures timely replenishment of stocks at storage depots and retail outlets during high demand.
The regulator warned against hoarding or any artificial escalation of prices, stating that such actions are unnecessary given the current adequate supply levels. Additionally, the NMDPRA clarified that the previous 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in effect, a move expected to ease market pressures and stabilize pump prices.
Reaffirming its oversight role, the authority assured Nigerians that it will continue monitoring the supply situation closely and implement appropriate regulatory measures to prevent disruptions in the distribution of petroleum products, especially during this busy period.
The statement concluded with appreciation for sector stakeholders’ cooperation and a reaffirmation of the NMDPRA’s commitment to ensuring energy security.
In related news, Nigeria’s crude oil production slightly increased to an average of 1.401 million barrels per day in October 2025, according to the OPEC Monthly Oil Market Report released on Wednesday. While this marks a marginal rise from 1.39 million barrels per day in September, it remains below Nigeria’s OPEC quota of approximately 1.5 million barrels daily and marks the third consecutive month Nigeria has not met its production target, the last being in July 2025.
