NNPC Vows To Sanction Fuel Marketers Hoarding Products

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 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.