The Department of Petroleum Resources (DPR), has warned depot owners against hoarding petroleum products in their facilities.
It said the warning became imperative following reports on the unwholesome activities of some depot owners who have created artificial scarcity by hoarding products in some parts of the country.
Mr Sarki Auwalu, Director, DPR gave the warning in a statement on Wednesday in Lagos.
According to him, their nefarious activities are causing untold hardship to Nigerians.
He said records have shown that there was product sufficiency in the country and that there was no need for such practices.
Auwalu emphasised that the DPR as the licence issuers to all oil and gas facilities in Nigeria including the depots, would not hesitate to apply appropriate sanctions on any depot found wanting in this regard.
He noted that the agency had set up a special task force to intensify surveillance and monitoring of all depots to check this anomaly.
The director noted that DPR would continue to provide its regulatory focus of quality, quantity, integrity, and safety (QQIS) for the effective operations of the downstream sector.
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