The Department of Petroleum Resources (DPR) has issued warning to depot owners against hoarding of petroleum products in their facilities.
Mr Sarki Auwalu, Director, DPR , issued the warning in a statement issued on Wednesday in Lagos.
Auwalu said it was necessitated by reports received by the agency on the wholesome activities of some depot owners who have created artificial scarcity by hoarding products in some parts of the country.
According to him, their nefarious activities is causing untold hardships to Nigerians.
He stated that from available records, there was product sufficiency in the country and that there was no need for such practices by these group of unpatriotic citizens.
Auwalu emphasised that the Department, 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 further stated that the agency has set up a special taskforce to intensify surveillance and monitoring of all depots to check this anomaly.
The Director assured that DPR would continue to provide its regulatory focus of quality, quantity, integrity and safety ( QQIS) for the effective operations of the Downstream sector.