Fuel scarcity is artificial, stop panic buying, says Consumer Protection Agency

There isn’t a acute discount in product availability at each provide and retail factors within the worth chain of petroleum distribution to justify the hardship and constraints rising attributable to lengthy gasoline queues, the Federal Competitors and Client Safety Fee (FCCPC) stated in a launch.

The Fee stated that it’s adopting the advisory issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Might 29, advising customers to not have interaction in panic purchases or in any other case stockpile merchandise in a way inconsistent with common periodic purchases and consumption.

In accordance with the assertion signed by Babatunde Irukera, Govt Vice Chairman/Chief Govt Officer of the FCCPC, this conclusion was arrived at after participating with the Lagos State Client Safety Company (LASCOPA), NMDPRA, and the Main Oil Entrepreneurs Affiliation of Nigeria (MOMAN).

“The Fee notes a major and doubtlessly inexplicable rising enhance and lengthening of wait instances in procuring gasoline at filling stations in sure areas throughout the nation.

“This rising hardship on motorists and different customers invariably impedes commerce, and visitors and presents different difficulties, unintended penalties and monetary constraints for residents,” the discharge learn.

Petroleum merchandise are typically flammable and require transportation, dispensation, consumption, and storage in strictly managed and controlled manners. Any opposite strategy to those strictly regulated manners constitutes hazard and danger of great losses, even fatality.

“As such, and in accordance with the assurances of the NMDPRA and MOMAN that current provides usually are not inadequate for commonly established consumption ranges, the Fee encourages customers to not modify their common buy and consumption patterns.”

As well as, the Fee reiterated its obligations with respect to companies/undertakings within the provide chain underneath the Federal Competitors and Client Safety Act, 2018 (FCCPA).

“Part 17 (g) prohibits misleading or unconscionable enterprise practices. Part 17 (s) prohibits obnoxious practices or unscrupulous exploitation of customers by firms, commerce associations, and even people.

“Part 59 (1) and (2) prohibits any mutual understanding or selections with a goal or impact that forestalls, restricts or distorts competitors, particularly, and notably together with price-fixing or limiting distribution or provide.

“Part 108 (1) prohibits any preparations that unduly restrict the manufacturing, transportation, storage and or provide of merchandise, together with for the aim of enhancing worth,” the FCCPC cited. “Part 127 (1) prohibits supplying merchandise at costs or on phrases which might be manifestly unfair, unreasonable or unjust.”

In the meantime, the Fee has right this moment agreed with LASCOPA, (and its increasing participation) on a Joint Inter-Company Job Pressure to implement the provisions of the legislation, guarantee compliance and stop hardship on residents.

“The Fee possesses the desire and want and is dedicated to the strictest enforcement of the legislation. Product entrepreneurs have been knowledgeable that any infringement which distorts the market or allows others to take advantage of customers and perpetuate inconvenience might be topic to the aggravated and highest spectrum of penalties the place the proof helps violation.”

The Fee stated that organised advertising or buying and selling associations/platforms corresponding to MOMAN and the Unbiased Petroleum Entrepreneurs Affiliation of Nigeria (IPMAN) are invited to notice this and their collective and particular person attainable publicity within the occasion of evidence-supported violations.

President Bola Ahmed Tinubu, in noting the unsustainability of subsidy, assured that sources related to subsidy will assist extra significant and continued efforts in direction of improved lives and dwelling situations of residents.

“The Fee and collaborators recognized herein will proceed to have interaction and replace customers. Shoppers are additionally invited to offer credible details about any conduct or practices they expertise which they understand could also be a attainable violation of the legislation.

In accordance with the Fee, such data could also be despatched by means of our regular channels, particularly, contact@fccpc.gov.ng.