The Department of Petroleum Resources (DPR) says it will sanction marketers engaged in the hoarding of petroleum products in their outlets.
The Director-General of DPR Mr Sarki Auwalu gave the warning in a statement issued on Tuesday in Lagos.
Auwalu said the warning was necessitated by the emergence of queues in retail outlets in some states of the federation.
According to him, from available records, there is product sufficiency in the country and there is no need for hoarding by any marketer.
Auwalu said: “The regulatory agency has set up a special task force to intensify surveillance and monitoring of all retail outlets and depots nationwide to check the anomaly.”
He, therefore, advised the general public against panic buying.