Marketing experts warn Nigerians: stop buying petrol panic, there is no shortage

The Petroleum Products Retail Stretch Owners Association of Nigeria (Petroan) has warned the Nigerians from the purchase of petrol panic across the country.

Petroan also rejected the insinuation of the fact that the temporary suspension of sales to Naira by the dance refinery was the reason behind the purchase of petrol panic in the country.

The National Officer of Public Relations of Petroan, dr. Joseph Obele made this known through a statement on Tuesday 25 March 2025.

Obele said that there should not be a panic purchase threat in view of the supply of oil products by functional refineries of the National Petroleum Company Limited (NNPC Limited) and modular and importers refineries.

He said: “We wish to reassure the public that this is not a justification for the purchase of panic. The NNPC Limited has two functional refineries and there are other modular refineries, as well as importers, which are also providing oil products on the market.

“Therefore, we do not see any reason for the threat of the purchase of panic. We urge the Nigerians to remain calm and carry out their normal activities, as there is no shortage of oil products.”

Obele has reassured the public general that “the tension that leads to the purchase of panic is without foundation”.

He said that the Federal Government, the Ministry of Petrolled Resources and the regulatory agencies have been committed to guaranteeing an unprecedented supply of oil products to meet the needs of the Nigerians.

Petroan spokesman added: “We believe that the promotion of local production will not only guarantee energy safety, but will also create jobs and stimulate economic growth.

“However, the oil marketing body has recognized that the only local production may not be enough to satisfy the demand of the country of oil products and therefore supports the position that the window for the import of oil products should remain open.

“This will guarantee that the country has a stable and sustainable supply of oil products, also promoting competition and keeping prices under control.

“We urge the Nigerians to remain calm and carry out their normal activities without fear of scarcity.”

On the initiative of Naira-For-Crude, Obele said that the duration of the six-month test was finished, observing that the federal government was examining the policy to determine the future.

Obele observed that, contrary to relationships, politics has not been resolved rather than subjected to a review after the initial execution period.

He said: “We understand that the ministry is still taking into consideration the feasibility and sustainability of the Naira-For-Crude initiative.

“We urged the Ministry to continue its resolutions, taking into account the interests of all interested parties, including retrolypal products, to ensure that all political decisions align with the economic objectives of the nation”.

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