FG Vows To Sanction Depot Owners Selling Petrol Above Official Price

The Minister of Petroleum Resources, Mr. Timipre Sylva, at the weekend vowed that the federal government would sanction petrol depot operators selling the product above the approved prices. He warned the operators to desist from flouting the federal government’s directive on strict adherence to the official prices of the product in their facilities.

The Minister of Petroleum Resources, Mr. Timipre Sylva, at the weekend vowed that the federal government would sanction petrol depot operators selling the product above the approved prices. He warned the operators to desist from flouting the federal government’s directive on strict adherence to the official prices of the product in their facilities.

Sylva, who spoke in Abuja, against the backdrop of concerns that the downstream sector operators had begun hiking prices, without approval, declared that the federal government would not hesitate to deal decisively with any depot owner caught selling the product above the approved prices.

This is coming as the Nigerian Association of Road Transport Owners (NARTO), at the weekend called on its members to resume full operations, following the commencement of implementation of the 25 per cent freight rate by the federal government.

Speaking on efforts to resolve the issue of fuel scarcity in the country, Sylva urged the public to report anyone who tries to take advantage of the situation for punishment as required by the law.

“If any depot owner increases price or any fuel station tries to take advantage of the situation, the public should report immediately. If we do not get the report, we cannot know what is going on or sanction them,” he said.

He stated that the warning had become necessary since the ministry, as well as President Muhammadu Buhari, had information that some depot owners were taking advantage of the situation by increasing the ex-depot price.

According to him, the Nigerian National Petroleum Company (NNPC) Limited and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), had been working hard to ensure a seamless supply of the needed fuels across the country.

Sylva said that supply was being increased across the country, especially in Abuja. “We are not resting; we share the pains of Nigerians.

“We will continue to ensure that the situation is controlled. Queues are coming down in Lagos and other parts of the country. Very soon, this will be a thing of the past,” he said.