Federal Government to penalize fuel stations or depot selling above N165 per litre

The Federal Government has threatened to sanction any fuel stations or depot selling above the stipulated approved pump price of of petrol also know as Premium Motor Spirit (PMS).



The threat followed the persistent fuel scarcity being witnessed in the FCT and its environs as well as in other parts of the country.


Mr Farouk Ahmed, Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) gave the warning on Monday during an inspection on fuel stations in Abuja.


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


He said the inspection is focused at taking action to enforce the regulations given to the oil marketing companies, particularly those selling over the official price of N148 kobo.



He explained that the pump price of PMS was still N165 per litre and remained sacrosanct, adding that nothing had changed and government had not made any other decision on that.


He said it would take an 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 over price at the depot.



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