NNPC Vows To Sanction Fuel Marketers Hoarding Products

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The Nigerian National Petroleum Corporation (NNPC) has declared that any marketer that fails to comply with the Federal Government new pump price for Premium Motor Spirit (PMS) runs the risk of having its product distributed free of charge to consumers and face a three month ban from operations.

Minister of State for Petroleum Resources Dr. Ibe kachikwu, said in Abuja Monday that the Federal Government had on January 1, 2016 flagged off the enforcement of the new pump price of N86.50 per litre for NNPC Retail stations and N86.50 for independent Marketers across the country.

Addressing a press conference yesterday, the minister said any station that sells above the approved pump price, including NNPC owned Filling stations, will pay for their actions.

According to him, “I will be very shocked if NNPC owned stations are involved in fraudulent activities; but in case they do, I implore Nigerians to make use of their social media platforms to report activities of these stations. When that happens, I will not shut down any NNPC station because I want them to circulate, but I will get the individuals involved fired and the Manager dismissed.”

Similarly lending his voice to the matter, Managing Director, Department of Petroleum Resources, Mordeccai Ladan, said to ensure compliance with government policy, operatives of the DPR will take action from today, noting that the agency had devised electronic measures to ensure that petroleum products are not diverted by criminal elements.

He said: “We are going to monitor electronically the supply of petroleum products from supply point to the designated area. From today, DPR staff will monitor filling stations to ensure that the N86.50k by both Independent and major filling stations comply with the new regulations.

“We will also move round NNPC owned stations as well as the affiliates, because we have realized that some of them engage in these fraudulent activities. This is to ensure that the public enjoys good services in line with government policies.

Ladan further disclosed that the country can boast of over 30,000 filling stations across the country with about 300 DPR officers to monitor and check abuses

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