The Federal Government has promised to close down petrol stations found selling PMS at inflated prices, following concerns raised by Nigerians about the high cost of the fuel.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority announced the government’s stance, stating that it was not in the best interest of the public for marketers to engage in profiteering.
Independent oil marketers claimed they were purchasing petrol for as much as N850 per litre from private depots, leading to higher pump prices.
However, the NMDPRA spokesperson countered this argument, stating that the regulator’s reports from depot officials indicated otherwise.
“Our depot people see a different price because we ask them to publish the prices at the depots every day and it is not N850/litre. Our field agents at the depots give us a different figure,” he said.
When told that some filling stations operated by independent marketers in Lagos and many other states dispense their products for as high as N900 and N1,000/litre, the NMDPRA official said such outlets would be brought to book if apprehended.
“If we get these outlets, all we do is to try and shut them down, because NNPC is the company that brings in the product and they tell us how much they sell as their ex-depot prices to off-takers. And we sit down together and work out the margins and there is no way it should be that high,” Ene-Ita declared.
