Financial Energy Review
The Department of Petroleum Resources (DPR), Osogbo Field Office, has warned residents of the state against panic buying, hoarding and storing of petroleum products at home during the Yuletide period.
Mr Benjamin Ogunnubi, the DPR Operations Controller in Osun, gave the warning on Thursday in Osogbo.
Ogunnubi said there was no cause for panic buying, as the Federal Government had made adequate provision for availability of the products during the Yuletide and beyond.
The controller warned that storing of petroleum products at home could cause fire outbreak.
He said people needed to be very careful with how they handle petroleum products in the harmattan period.
Ogunnubi also warned independent marketers against hoarding of the products to create artificial scarcity.
He said the survelliance team of the department would be all out during the festive season to ensure free flow of the products in filing stations in the state.
“The department is pleading with people to shun panic buying and storage of petroleum products in their houses.
“We are in harmattan period, and storing of petroleum product at home can result in fire outbreak, which can lead to destruction of lives and property.
“We have to be wise, there’s no reason for panic buying or hoarding of the product because we have enough of it in stock,”Ogunnubi said.
The controller also appealed to consumers to report sharp practices, such as under-dispensing, to the department for appropriate action.
Ogunnubi appealed to petroleum marketers to always adhere strictly to standard safety practices in their filing stations.
He warned that any marketer that violates the standard procedure would be dealt with according to the law.
