We’ll penalise filling stations selling petrol above N165 a litre, says FG

The federal government says it will penalise filling stations or depots selling above the stipulated approved pump price of premium motor spirit (PMS).

The development comes as parts of the country including Lagos and the federal capital territory (FCT), are currently battling fuel scarcity.

Oil marketers had made a case for the increment of petrol pump price due to “hostile environment”.

Farouk Ahmed, chief executive officer (CEO), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said this on Monday during a joint inspection of fuel stations in Abuja.

The exercise was carried out in collaboration with some top officials of the Nigerian National Petroleum Company Limited (NNPC), Petroleum Pipeline and Marketing Company (PPMC) and the NMDPRA.

The fuel stations inspected were Shafa Energy, Shema, Ardova Plc and NIPCO fuel stations in Lugbe, Airport Road, Abuja.

He said the inspection aimed at taking action to enforce the regulations through follow-up warning against selling above the official price.

Ahmed said the pump price of PMS is still N165 per litre and remained sacrosanct.

He added that the price of the commodity had not changed as the government had not made any other decision on it.

Ahmed, therefore, said the authority would take action against defaulters because based on its engagement with the Depots and Petroleum Marketers Association of Nigeria (DAPMAN) and Major Oil Marketers of Nigeria (MOMAN), they were warned against overpricing at depots.

He said as a regulator, there were a series of actions it could take including withdrawal of service from a particular depot, shutting down and penalising defaulters’ outlets, among others.

According to him, the inspection was an ongoing exercise as the authority had seven teams going around different locations.

He added that NNPC teams were also going around fuel stations with support from the security agencies.